Indian Rupee At 1-Wk High As CPI Eases, PM’s Economic Review Eyed

The Indian rupee little changed at 71.70 pair now at 71.81 against 72.1850 previous close.
Pair to tip in 71.55- 71.95 range today.
The Indian rupee rose to a one-week high against the dollar in early trade, tracking lower-than-expected retail inflation data at home and in the U.S. Investors await to see if the policymakers announce any measures to stem the recent rout in the rupee after a meeting with the Prime Minister Narendra Modi over the weekend. The rupee had hit a record low of 72.92 on Sep. 12.

The dollar dipped on Friday after weaker-than-expected U.S. inflation data, with the currency already sagging on signs of reduced trade tensions between the United States and China. The dollar's index against a basket of six major currencies was a shade lower at 94.491 .DXY after slipping 0.3 percent on Thursday, when it touched 94.428, its lowest since Aug. 31.
The euro inched up 0.05 percent to $1.1695 EUR= after gaining more than 0.5 percent overnight when it brushed a two-week high of $1.1701. The ECB kept policy unchanged as expected on Thursday, staying on track to end its bond purchases this year and raise interest rates next autumn.

Oil on Friday clawed back some of its losses from the previous session, when prices fell the most in a month, as concerns about oil supply are countering worries that emerging market crises and trade disputes could dent demand. Brent crude LCOc1 was up 8 cents, or 0.1 percent, at $78.26 a barrel.
Gold prices edged higher on Friday as softer-than-expected U.S. consumer prices data dimmed the case for a faster pace of policy tightening by the Federal Reserve. Higher rates make gold less attractive since it does not pay interest and costs to store and insure.

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