Daily Digest Market Movers: Indian Rupee gains ground amid multiple headwinds

Deloitte India estimates India's GDP growth at 6.6% in the current fiscal year, supported by consumption expenditure, exports rebound, and capital flows.
In contrast to the global scenario, the Indian economy continues to exhibit strong economic performance with broad-based growth across sectors, according to the Monthly Economic Review report of the Department of Economic Affairs under the Finance Ministry.
The US Personal Consumption Expenditures (PCE) Price Index, climbed by 2.7% YoY in March, compared to 2.5% in February, above the market consensus of 2.6%. 
The Core PCE, excluding volatile food and energy prices, held steady at 2.8% YoY in March, stronger than the expectation of 2.6%. 
On a monthly basis, both headline PCE and the core PCE Price Index were in line with market expectations, rising 0.3% in March.
According to the CME FedWatch tool, the chance of a rate cut by the July meeting fell from 50% last week to 25%, while traders have priced in nearly 60% odds that the Fed will cut the interest rate at its September meeting.