Rate Hike Bets Rise as CPI Bolsters Speculation on Fed's Inflation Victory

Speculation on the Federal Reserve's victory over inflation has been bolstered by the latest Consumer Price Index (CPI) data, pushing rate hike bets back into "coinflip" territory. Traders are contemplating why India's central bank is steadfastly defending the rupee against the US dollar. Additionally, weak outlook from top IT companies and US inflation woes have dragged Indian shares. The digital euro's potential to revolutionize digital payments while maintaining stability and security is seen as a significant development in the financial landscape of the European Union (EU). India's cryptocurrency market has witnessed considerable uncertainty and volatility due to conflicting signals from both the government and the Reserve Bank of India (RBI).