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Reliance Securities Report
From an intraday perspective, the Indian rupee could open stronger against the dollar this Friday tracking a fall in the dollar and benchmark bond yields.
The rupee could open around at 82.4000 to 82.4200 compared with 82.5700 in the previous session and the range for the session is 82.3000 to 82.6000.
Modestly positive risk sentiment could prevail in the markets this Friday as an increase in U.S. jobless claims reinforced expectations of a pause in the Fed's rate hike cycle next week.
On the other hand, Chinese yuan has started weaker this Friday after weak inflation numbers suggests a faltering economic recovery and could cap gains for the domestic unit.
In the overseas markets, the U.S. dollar Index started flat against a basket of major currencies on Friday morning in Asian trading as focus shifts to data and Fed meeting next week. • U.S. consumer price index report due Tuesday and the PPI next week on Wednesday for further clarity on inflationary pressures and are the last key economic indicators before the Federal Open Market Committee decision later on Wednesday.
Lack of any economic data this Friday will keep the dollar in a small trading band.
The euro, the sterling and the yen started flat against the greenback this Friday morning.
From an intraday perspective, Indian bond yields are likely to open lower on Friday tracking U.S. peers lower.
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