Daily Digest Market Movers: Indian Rupee remains vulnerable amid the multiple headwinds
- India's Wholesale Price Index-based inflation dropped to a four-month low, dropping to 0.20% YoY in February from 0.27% in January, worse than the market expectation of 0.25%.
- The Indian WPI Food climbed 6.95% YoY in February from the previous reading of 6.85%, while the WPI Fuel fell by 1.59% YoY from a 0.51% drop in January.
- The Indian WPI Manufacturing Inflation for February came in at -1.27% YoY versus -1.13% prior.
- US Retail Sales jumped 0.6% MoM in February from a downwardly revised -1.1% in the previous month, below the market consensus of a 0.8% m/m rise.
- The US PPI figure rose 0.6% MoM in February from 0.3% MoM in January, while the Core PPI figure climbed 0.3% MoM from a 0.5% gain in January.
- The US weekly Initial Jobless Claims for the week ending March 9 decreased by 1,000 to 209,000 from the previous week's print of 210,000, better than the market expectation of 218,000.
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