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Reliance Securities Report
From an intraday perspective, the Indian rupee could open stronger on Tuesday to begin a week ahead of the Fed and other central bank meetings on interest rates.
Slight uptick of the dollar could cap gains, but most Asian peers have started this Tuesday on a stronger note and could cap losses.
So, the rupee opened at 81.7500 to 81.7600 compared with 81.8250 in the previous session.
Supports for the U.S. dollar-Indian rupee spot pair are at 81.6500 and 81.5500, resistances are at 81.8700 and 81.9200.
In the overseas markets, the U.S. dollar Index started flat to marginally weaker this early Tuesday morning in Asian trading as investors await the Fed's meeting this week.
The Federal reserve is expected to hike interest rates by an additional 25- bps.
After the Fed meeting, markets will also look to cues from nonfarm payrolls number on Friday.
Supports for the dollar index are at 101.80 and 101.40, resistances are at 102.35 and 102.55.
The euro and the sterling started marginally stronger this early Tuesday morning in Asian trading.
Investors will look to purchasing managers' index data and inflation numbers from Eurozone ahead of the European Central Bank meet this week.
The yen gained marginally this early Tuesday morning, but gains were limited ahead of crucial events this week.
From an intraday perspective, Indian bond yields are expected to start higher this Tuesday morning tracking U.S. peers higher ahead of Fed meeting this week.
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