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Rupee Marginally Firmer, RBI On Tap

INR

The rupee is marginally firmer in early dealing, US Treasury Yields have ticked lower as have WTI futures, aiding moderate gains in the INR.

  • USD/INR deals at 81.90/95, ~0.1% softer today, the pair has held below 82 handle which broke late in yesterday's session.
  • Bears look to target the 200-Day EMA at 81.04. Bulls look to target the 83 handle, however they will first need to clear the 20-Day EMA (82.30).
  • The March S&P Global PMI ticked lower in March to 57.8 from 59.4 prior however the measure remains comfortably in expansionary territory.
  • The RBI monetary policy decision is due in ~40 minutes, the bank is forecast to lift the repurchase rate to 6.75% from 6.50%. Our preview of the meeting is here.
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