Daily Digest Market Movers: Indian Rupee remains strong amid multiple challenges
- The Indian merchandise trade deficit widened to $18.7 billion in February from $16.57 billion in January as gold imports surged significantly amid the Red Sea geopolitical tensions.
- Goods imports rose to $60.11 billion in February versus $54.41 billion in January, while exports arrived at $41.40 billion in February from $36.92 billion in January, according to the commerce ministry.
- The University of Michigan Consumer Sentiment Index eased to 76.5 in March compared to expectations and the previous reading of 76.9.
- The preliminary UoM one-year and five-year inflation expectations for March were unchanged at 3.0% and 2.9%, respectively.
- US Industrial Production improved to 0.1% MoM in February from a downwardly revised -0.5% MoM in January.
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