# USD/INR trims losses ahead of Indian GDP, US PCE data

> The rupee weakened on May 31 as a firmer U.S. dollar, supported by the Fed's higher-for-longer stance, pressured emerging Asian currencies. Traders awaited Indian GDP data and U.S. core PCE inflation, and the U.S. first-quarter GDP estimate was revised down to 1.3%.

- Date: 2024-05-31 · published 2024-05-31T12:00:00.000Z
- Category: macro · region India · magnitude low
- Page: https://feedsoft.ai/events/30562-usd-inr-trims-losses-ahead-of-indian-gdp-us-pce-data
- Commodities: [Indian Rupee (INR per USD)](https://feedsoft.ai/c/USDINR.md), [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

A stronger dollar and a weaker rupee make dollar-priced imports costlier for India, which can dampen demand for feed ingredients. Lower crude prices partly cushion the rupee.

## Read by commodity

- DXY: bullish ▲
- USDINR: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2025-07-31 | [US Dollar Index trades near 100.00, inches lower ahead of PCE inflation data](https://feedsoft.ai/events/23956-us-dollar-index-trades-near-100-00-inches-lower-ahead-of-pce-inflation-data.md) | -0.7% | -0.6% |
| DXY | 2021-05-28 | [USD/JPY set to retest 110 ahead of US data — Octa](https://feedsoft.ai/events/47355-usd-jpy-set-to-retest-110-ahead-of-us-data-octa.md) | -0.1% | +1.0% |
| DXY | 2023-08-31 | [USD/CAD delivers modest recovery ahead of core PCE Inflation data — Octa](https://feedsoft.ai/events/34817-usd-cad-delivers-modest-recovery-ahead-of-core-pce-inflation-data-octa.md) | +1.8% | +2.3% |
| DXY | 2023-07-28 | [AUD/USD struggles near three-week low amid stronger USD, ahead of US PCE Price Index — Octa](https://feedsoft.ai/events/35310-aud-usd-struggles-near-three-week-low-amid-stronger-usd-ahead-of-us-pce-price.md) | +1.3% | +2.0% |
| DXY | 2024-10-30 | [AUD/USD: More Losses Likely as After U.S. GDP, Australian CPI Data \| tastylive](https://feedsoft.ai/events/28124-aud-usd-more-losses-likely-as-after-u-s-gdp-australian-cpi-data-tastylive.md) | -0.2% | +1.6% |

## Sources

- fxstreet.com: https://www.fxstreet.com/news/usd-inr-gains-ground-ahead-of-indian-gdp-us-pce-data-202405310301

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.