Rupee And Bond Update - Jan 12, 2023: Reliance Securities

Reliance Securities Report

The Indian rupee could open flat this Thursday morning as focus shifts to U.S. and domestic inflation numbers.

The rupee could open at around 81.5800 to 81.6200 per dollar this Thursday morning versus a close 81.5750 on Wednesday and could remain within a broad trading band of 81.44 to 81.82.

Most of Asian peers were stronger this Thursday morning tracking gains in the equity markets ahead of U.S. consumer price data and could cap losses.

Domestically, apart from inflation, Index of Industrial Production and manufacturing numbers after market hours could also have impact on sentiments.

In the overseas markets, the U.S. dollar was trading flat this early Thursday morning in Asian trade and could remain range within a broad trading band of $102.90 to $103.50 ahead of U.S. inflation data.

U.S. investors bet on inflation data being benign which could give the Federal Reserve room to dial back on its aggressive interest rate hikes.

The yen strengthened against the greenback this Thursday morning on expectations that the Bank of Japan will review the side effects of its monetary easing.

Indian bond yields are expected to open marginally lower this Thursday morning tracking a overnight fall in the U.S. peers.

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