Rupee And Bond Update - Feb 14, 2023: Reliance Securities

BQ Prime’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BQ Prime’s subscribers an opportunity to expand their understanding of companies, sectors and the economy. .Reliance Securities Report.The Indian rupee is likely to open flat to marginally against the dollar on Tuesday morning ahead of the U.S. CPI data. Most of the Asian and emerging market peers have started stronger this Tuesday morning and will aid sentiments. Back home, inflation came in worse than expected, while core inflation also remained sticky which would be suggest that another rate hike is on the cards from Reserve Bank of India. So, the rupee could open at around 82.60000 to 82.6200 compared with 82.7175 in the previous session. Supports for the U.S. dollar-Indian rupee spot pair are at 82.6400, 82.5600 and 82.4900, resistances are at 82.7800, 82.8500 and 82.9300 and the pair could remain within the levels this Tuesday. On the data front, domestic WPI inflation will be key due today and is forecast to ease slightly to 4.54% from 4.95% previously. In the overseas markets, the U.S. dollar was flat this Tuesday morning in Asian as markets could look to CPI data this evening. U.S. consumer inflation expectations for the year ahead were unchanged at 5% in January of 2023, the same as in December, and holding at low levels not seen since the end of 2021. The euro and the sterling started marginally stronger this Tuesday morning in Asian trade as traders look to Eurozone GDP and U.S. inflation data today. The yen gained marginally this Tuesday morning. Indian bond yields could open higher and trade with a positive bias after domestic retail inflation shocks on upside suggesting that RBI will hike rates further..Click on the attachment to read the full report:.DISCLAIMERThis report is authored by an external party. BQ Prime does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BQ Prime..Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

Rupee And Bond Update - Feb 14, 2023: Reliance Securities

The Indian rupee is likely to open flat to marginally against the dollar on Tuesday morning ahead of the U.S. CPI data.

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