{"id":115634,"date":"2024-01-17T11:50:37","date_gmt":"2024-01-17T11:50:37","guid":{"rendered":"https:\/\/currencylive.com\/news\/?p=115634"},"modified":"2024-01-17T11:50:55","modified_gmt":"2024-01-17T11:50:55","slug":"10820-usd-inr-rupee-falls-after-weak-china-gdp-data","status":"publish","type":"post","link":"https:\/\/currencylive.com\/news\/10820-usd-inr-rupee-falls-after-weak-china-gdp-data\/","title":{"rendered":"USD\/INR: Rupee falls after weak China GDP data"},"content":{"rendered":"<ul>\n<li><strong><a href=\"https:\/\/currencylive.com\/exchange-rate\/inr-indian-rupee-live-exchange-rate\/\">Indian Rupee<\/a> (INR) falls for a second day<\/strong><\/li>\n<li><strong>China GDP grew less than expected<\/strong><\/li>\n<li><strong><a href=\"https:\/\/currencylive.com\/exchange-rate\/usd-us-dollar-live-exchange-rate\/\">US Dollar<\/a> (USD) rises after hawkish Fed commentary<\/strong><\/li>\n<li><strong>US retail sales data is expected to rise 0.4%<\/strong><\/li>\n<\/ul>\n<p>The US Dollar Indian Rupee (USD\/INR) exchange rate is rising for a second straight day. The pair rose 0.31% in the previous session, settling on Tuesday at 83.08. At 11:00 UTC, USD\/INR trades +0.07% at 83.14 and trades in a range of 83.03 to 83.18.<\/p>\n<p>The Indian Rupee is heading lower along with its Asian peers after China\u2019s GDP raised concerns over the economic recovery in Asia&#8217;s largest economy.<\/p>\n<p>China&#8217;s GDP grew 5.2% in 2023, slightly more than the official target of 5% but below expectations of 5.3%.<\/p>\n<p>Data confirms that the deepening property crisis and mounting deflationary risks, along with cooling demand, could weigh on the outlook for the economy in the coming year.<\/p>\n<p>Other data from China showed that industrial production came in ahead of forecasts, but retail sales rose by less than expected, rising 7.4%, down from 10.1% in November, but also against favorable comparisons.<\/p>\n<p>The US Dollar is rising against the Rupee but is holding steady versus its major peers. The US Dollar Index, which measures the greenback versus a basket of major currencies, trades +0.03% at the time of writing at 103.37, after gains in the previous session.<\/p>\n<p>The US dollar is heading higher for a second straight as investors reassess the likelihood that the Federal Reserve will start cutting interest rates early this year.<\/p>\n<p>After rate cut expectations surged at the end of last year, the market is taking a more measured approach at the start of 2024.<\/p>\n<p>Hawkish comments by Federal Reserve officials have lifted the dollar to a one-month high versus its major peers. Federal Reserve&#8217;s Christopher Waller said that while the US is close to the Fed&#8217;s 2% inflation goal, the Fed should not rush toward cuts until inflation is clearly unsustainably below 2%<\/p>\n<p>Market expectations of a March rate cut have called to 60% versus 75% yesterday, according to the CME&#8217;s Fed Watch tool.<\/p>\n<p>Looking ahead, attention is to retail sales data which is expected to rise 0.4% month on month ahead in December after rising 0.3% in November. Stronger than forecast US retail sales data could fuel expectations of a soft landing in the US and could see traders push rate cut beds back further.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Indian Rupee (INR) falls for a second day China GDP grew less than expected US Dollar (USD) rises after hawkish Fed commentary US retail sales data is expected to rise 0.4% The US Dollar Indian Rupee (USD\/INR) exchange rate is rising for a second straight day. The pair rose 0.31% in the previous session, settling [&hellip;]<\/p>\n","protected":false},"author":163946598,"featured_media":47015,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1693,1381],"tags":[1666,1398,1862],"class_list":["post-115634","post","type-post","status-publish","format-standard","has-post-thumbnail","category-inr","category-usd","tag-inr","tag-usd","tag-usd-inr"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.0 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>USD\/INR: Rupee falls after weak China GDP data - Currency Live<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/currencylive.com\/news\/10820-usd-inr-rupee-falls-after-weak-china-gdp-data\/\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Ileana Ionescu\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/10820-usd-inr-rupee-falls-after-weak-china-gdp-data\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/10820-usd-inr-rupee-falls-after-weak-china-gdp-data\\\/\"},\"author\":{\"name\":\"Ileana Ionescu\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#\\\/schema\\\/person\\\/3d5cb0a6a22d357fc0b9ad562f35e75b\"},\"headline\":\"USD\\\/INR: Rupee falls after weak China GDP data\",\"datePublished\":\"2024-01-17T11:50:37+00:00\",\"dateModified\":\"2024-01-17T11:50:55+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/10820-usd-inr-rupee-falls-after-weak-china-gdp-data\\\/\"},\"wordCount\":386,\"image\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/10820-usd-inr-rupee-falls-after-weak-china-gdp-data\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/currencylive.com\\\/news\\\/wp-content\\\/uploads\\\/2019\\\/10\\\/gbp-inr.jpg\",\"keywords\":[\"inr\",\"usd\",\"usd\\\/inr\"],\"articleSection\":[\"INR\",\"USD\"],\"inLanguage\":\"en-US\",\"copyrightYear\":\"2024\",\"copyrightHolder\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/10820-usd-inr-rupee-falls-after-weak-china-gdp-data\\\/\",\"url\":\"https:\\\/\\\/currencylive.com\\\/news\\\/10820-usd-inr-rupee-falls-after-weak-china-gdp-data\\\/\",\"name\":\"USD\\\/INR: Rupee falls after weak China GDP data - 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