India's foreign exchange reserves increased by $2.975 billion to $619.072 billion for the week ending on February 23, according to the Reserve Bank of India (RBI).
The US ISM Manufacturing PMI came in weaker-than-expected, dropping to 47.8 in February from 49.1 in January.
The University of Michigan Consumer Sentiment Index eased to 76.9 from 79.6, below the market consensus.
Boston Fed President Susan Collins and New York’s John Williams stated that the first rate cut will likely be appropriate later this year, while Atlanta’s Raphael Bostic said the first cut in rates would be appropriate probably at the end of this year at the earliest.
The financial markets have priced in the 70% odds that the Federal Reserve (Fed) will start cutting interest rates at the June meeting.
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