• Indian Rupee edges lower in Thursday’s Asian session. 
• The risk-off sentiment and higher crude oil prices drag the INR lower. 
• Investors await the US September ISM Services PMI on Thursday ahead of employment data. 

The Indian Rupee (INR) softens on the day, pressured by the renewed US Dollar (USD) demand. The risk-off mood amid the escalating geopolitical tensions in the Middle East boosts the safe-haven flows, benefiting the Greenback. Additionally, the rise in crude oil prices exerts some selling pressure on the INR as India is the third-largest oil consumer after the United States (US) and China. 

Looking ahead, investors will keep an eye on the US September ISM Services Purchasing Managers Index (PMI), the weekly Initial Jobless Claims and the final S&P Global Services PMI, which are due later on Thursday. The attention will shift to the US September employment data on Friday, including Nonfarm Payrolls (NFP), Unemployment Rate and the Average Hourly Earnings. If the jobs report showed a weaker-than-expected outcome, this could prompt the central bank to consider cutting rates deeper, which might exert some selling pressure on the USD.