TODAY Tuesday,2^nd  September , 2025

USD/INR:

The Indian rupee is expected to open marginally higher on Tuesday, building on the modest relief from the previous session, though sentiment remains fragile amid concerns over the fallout from higher U.S. tariffs.

The 1-month non-deliverable forward indicated the rupee  will open in the 88.10 to 88.14 range versus the U.S. dollar, compared with 88.1950 on Monday.

The rupee dropped to a lifetime low of 88.33 on Monday before staging a slight recovery. Market chatter pointed to likely Reserve Bank of India dollar sales helping the recovery, though bankers said it was hard to pin down.

MAJOR WORLD CURRENCIES:

USD:

GBP/USD:

The Pound Sterling (GBP) declines to near 1.3480 against the US Dollar (USD) during the European trading session on Tuesday. The GBP/USD pair drops as the US Dollar gains ahead of the United States (US) opening after an extended weekend, due to Labor Day holiday on Monday, with investors awaiting the ISM and S&P Global Manufacturing Purchasing Managers’ Index (PMI) data for August due later in the North American session.

During the press time, the US Dollar Index (DXY), which tracks the Greenback’s value against six major currencies, rises to near 98.00.

Economists expect the US ISM Manufacturing PMI to have contracted again, but at a moderate pace. The Manufacturing PMI is seen at 49.0, higher from the prior reading of 48.0. A figure below the 50.0 threshold is considered a contraction in the business activity

EUR/USD:

The Eurostat will publish the preliminary Eurozone inflation data for August later this Tuesday at 0900 GMT.

The Harmonised Index of Consumer Prices (HICP) is expected to rise 2.0% year-over-year (YoY) in August, while the core inflation is seen easing to 2.2% in the same period, compared to the previous reading of 2.3%.

Last week, the preliminary German Consumer Price Index (CPI) rose by 2.2% in August, against 2% increase in July and above market forecasts of 2.1%, though remaining close to the European Central Bank’s (ECB) 2% target.

Gold:

Gold (XAU/USD) kicks off the week on a stronger note, extending its advance for a fifth consecutive day to reach its highest level in more than four months, last seen on April 22. A broadly weaker US Dollar (USD) and firm expectations of a Federal Reserve (Fed) interest rate cut in September continue to bolster bullion’s momentum.

At the time of writing, XAU/USD is trading around $3,470 in the European session, easing from an intraday high of $3,489 marked during Asian hours and coming just shy of the all-time high at $3,500. Mild technical selling and steady US Treasury yields are weighing on sentiment, while trading conditions remain thin with United States (US) markets closed for Labor Day.

USD/INR Cash/Tom/Spot Levels: (in Paisa)

(Updated as on 2^nd September , 2025 @ 09.00am)

 Cash/Tom:   0.10/1.25          Cash/Spot:0.20/2.50

 Tom/Spot:   0.10/1.25           Spot/Next: 0.40/3.50

Cash Date:    02.09.2025

Tom Date:      03.09.2025

Spot Date:     04.09.2025

Outlook for the day 2^nd  September: Rupee expected to trade in range of 88.05 to 88.15

MAJOR WORLD CURRENCIES: as on (1^st September, 2025)

Foreign Currencies

Updated: 17:30 hrs. (12:00 GMT) on 1^st September 2025

Precious Metals

Updated: 17:30 hrs. (12:00 GMT) as on 1^st September 2025

Stock Indices

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