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Reliance Securities Report
The Indian rupee could likely start flat this early Thursday morning as investors could be cautious ahead of Reserve Bank of India's Monetary Policy Committee meeting outcome today.
According to a Reuters poll, RBI is likely to raise the interest rate by 25 basis points.
Most Asian peers have started weaker against the greenback this Thursday morning and will keep gains limited.
However, non deliverable forward has started above 82.00 levels and could aid sentiments.
So, the rupee could open at around 81.9500 to 82.0000 compared with 82.0000 in the previous session.
Supports for the U.S.dollar-Indian rupee spot pair are at 81.7450 and 81.5800, resistances are at 82.1650 and 82.3300.
In the overseas markets, the U.S. dollar Index started marginally higher this early Thursday morning in Asian trading ahead of the jobs data on Friday.
From an intraday perspective, jobless claims data will be the key trigger.
The euro and the sterling started marginally in the red, while the yen started stronger against the dollar this early Thursday morning trade.
Indian bond yields are expected to start flat this Thursday morning as investors could be cautious ahead of RBI's MPC meeting outcome today.
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