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Reliance Securities Report
From an intraday perspective, the Indian rupee could flat to marginally stronger on Monday morning and will be guided by the U.S. jobs report.
Asian peers have started this Monday morning on a weaker note and could cap gains.
This week again it could be a battle between the positive near-term momentum for the rupee and the Reserve Bank of India.
Data showed India's foreign exchange reserves rose to $588.78 billion as of April 28, from $584.25 billion a week earlier.
So, the rupee could open around at 81.7500 to 81.7600 compared with 81.8000 in the previous session.
Supports for the U.S. dollar-Indian rupee spot pair are at 81.6000 and 81.4800, resistances are at 81.8100 and 81.9200.
The key trigger for the domestic markets will be the inflation numbers.
In the overseas markets, the U.S. dollar Index started marginally weaker this early Monday morning in Asian trading as data shifts to U.S inflation numbers this week.
Supports for the dollar Index are at 100.95 and 100.70, resistances are at 101.60 and 102.00.
The euro, the yen and the sterling gained on Monday morning trade.
German CPI data, along with U.K GDP and BoE MPC meeting will be the key trigger this week.
From an intraday perspective, Indian bond yields are expected to start lower this Thursday morning tracking U.S. peers lower.
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