Rupee And Bond Update - Jan 05, 2023: Reliance Securities
The Indian rupee could start strong this Thursday morning tracking a fall in the dollar and crude oil prices.

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Reliance Securities Report
The Indian rupee could start strong this Thursday morning tracking a fall in the dollar and crude oil prices.
The local unit could also track gains in the non-deliverable forward markets which settled at 82.6400, after testing a high of 82.5950 on Wednesday.
So, the rupee could open around 82.7000 to 82.7500 per dollar this Thursday morning versus a close 82.8025 on Wednesday.
The rupee could trade within in a broad trading band of 82.50 to 82.90.
In the overseas markets, the U.S. dollar was trading flat to weak after the Fed minutes.
Fed fund futures now are pricing in a 67% chance that the U.S. central bank will continue to slow the pace of its rate hikes in February to 25 basis points.
On the calendar front, automatic data processing employment change and jobless claims data could influence the markets, but investors could also look to cues from speeches from Fed speakers tonight for cues on the rates and inflation.
So, the dollar index could remain range bound to weak ahead of the key data and trade within in a broad trading band of $103.85 to $104.60.
Indian bond yields are expected to open lower on Wednesday, tracking an overnight fall in the U.S. yields and weak oil prices that could aid inflation outlook.
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