美联储决定前卢比上涨，美印贸易谈判提振市场情绪。周三，印度卢比触及两周多来的高点，受美联储预期降息前美元暴跌以及对美印贸易谈判的乐观情绪提振。

Rupee rises ahead of Fed decision, US-India trade talks lift sentiment.The Indian rupee touched a more than two-week high on Wednesday, boosted by a slump in the U.S. dollar ahead of an expected rate cut by the U.S. Federal Reserve and optimism over U.S.-India trade talks.

随着美联储开始降息，卢比复苏将加快步伐。在美元和美国国债收益率下跌的支撑下，印度卢比准备在周三最近的复苏基础上再接再厉，市场坚定地关注美联储即将出台的政策裁决。

Rupee recovery to pick pace with Fed set to kick off rate cuts.The Indian rupee is poised to build on its recent recovery on Wednesday, supported by a drop in the dollar and U.S. Treasury yields, with the market focus firmly on the Federal Reserve's upcoming policy verdict.

印度BSE Sensex指数周二收于82381点，上涨约0.7%，为7月23日以来的最高水平，扭转了昨日的下跌趋势。受对美印贸易谈判的乐观情绪和美联储即将降息的预期支撑，涨幅广泛。印度和美国首席谈判代表今天举行会议，讨论审查拟议的双边贸易协定，而美联储周三完全定价的25个基点的降息可能会吸引外国投资组合流入。在新的商品及服务税税率和节日驱动的需求预期推出之前，汽车和耐用消费品股表现优异。在股票中，Kotak Mahindra Bank、Mahindra&Mahindra、Maruti Suzuki、Larsen&Toubro、Bharti Airtel和塔塔钢铁是涨幅最大的，而亚洲涂料和Bajaj Finance是唯一的落后者。

India's BSE Sensex closed about 0.7% firmer at 82,381 on Tuesday, a level not seen since July 23, reversing yesterday's decline. Gains were broad-based, supported by optimism over US-India trade negotiations and expectations of an imminent US Federal Reserve rate cut. India and US chief negotiators are meeting today for discussions to review the proposed bilateral trade agreement, while a fully priced-in 25 bps Fed cut on Wednesday may attract foreign portfolio inflows. Auto and consumer durable stocks outperformed, ahead of the rollout of new GST rates and festive-driven demand expectations. Among stocks, Kotak Mahindra Bank, Mahindra & Mahindra, Maruti Suzuki, Larsen & Toubro, Bharti Airtel, and Tata Steel were the top gainers, while Asian Paints and Bajaj Finance were the only laggards.

由于外汇流入有限和印度储备银行鸽派的前景，印度卢比兑美元汇率仍低于88，自9月初以来一直处于88.4的历史低点。随着印度继续从俄罗斯进口石油和燃料，美国维持了对印度50%的关税，并威胁要将目前的关税提高一倍，恳求七国集团国家加入。这是在莫迪总理回击并表示印度公司在不确定的经济背景下购买最有利的能源之后。在货币政策方面，8月份消费者通胀率为2.1%，仍接近印度储备银行2%通胀容忍区间的下限。央行在8月份的会议上保持利率不变，预计将在即将到来的10月份会议上保持不变，但通胀背景疲软和贸易限制引发的增长担忧支持了今年或明年再次降息的理由。

The Indian rupee remained weaker than 88 per USD, continuously resting record lows of 88.4 since the start of September on the outlook of limited foreign exchange inflows and a dovish RBI. The US maintained its 50% tariff on India and threatened to double the current rate, pleading G7 countries to join, as India continued to import oil and fuels from Russia. This was after PM Modi pushed back and stated that Indian firms buy the most favorable energy in an uncertain economic backdrop. On the monetary policy front, consumer inflation was at 2.1% in August, remaining close to the lower bound of the RBI's inflation tolerance band of 2%. The central bank held rates unchanged in its August meeting and is largely expected to hold on their upcoming October meeting, but the softer inflationary backdrop and growth concerns stemmed from trade restrictions supported the case for another cut this year or next.