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Reliance Securities Report
From an intraday perspective, the Indian rupee could open marginally stronger this Tuesday morning amid improving risk appetite and flows into the domestic equity markets.
However, the upcoming Federal Open Market Committee minutes could provide clues on the monetary policy outlook and could refrain investors from taking large positions.
Most Asian peers have started with gains and upbeat risk appetite could aid sentiments.
So, the rupee could open around at 81.8500 to 81.8700 compared with 81.9575 in the previous session and the range for the session is 81.7000 to 82.1500.
In the overseas markets, the U.S. dollar Index started flat against a basket of major currencies on Tuesday morning in Asian trading as investors will look to the minutes from the latest FOMC meeting on Wednesday for further clues on the Fed's next steps.
Volumes could be lower as U.S. is shut today on account of U.S. Independence Day holiday.
Apart from the FOMC minutes, the payrolls report, Job Openings and Labor Turnover Survey job openings, and ISM Services Purchasing managers' index are also due this week.
The U.S. dollar Index is expected to trade in $102.65 to $103.45 range this Tuesday.
The euro, the pound and the yen started flat this Tuesday morning.
From an intraday perspective, Indian bond yields could likely start flat to higher this Tuesday tracking the overnight rise in U.S. peers.
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