USD/INR opens up on firm dlr, higher crude oil prices

The Indian rupee little changed at 69.26 pair now at 69.23 against 69.15 previous close.
Pair to tip in 69.10-69.40 range today.
Dollar/rupee opened higher Thursday tracking a firm dollar buoyed by hopes of progress in US-China trade talk in the G20 meet due this weekend and less aggressive rate cut hopes by the Federal Reserve while higher crude oil prices further supported the gain in spot pair. Oil is trading at nearly a month's high and dollar also turned slightly firm. The dollar turned firm against major counterparts supported by hopes of Sino-US trade talk progress though investors still remain cautious ahead of a meeting between leaders of the two powers the US and China in Japan in the weekend.

The dollar hovered near a one-week high against the yen on Thursday, propped up by hopes of Sino-U.S. trade talk progress though investors were nonetheless cautious ahead of a meeting between leaders of the two powers in Japan in days ahead.
U.S. President Donald Trump and Chinese President Xi Jinping are due to meet at the June 28-29 G20 summit in Osaka. Investors are focusing on whether the two leaders can pave the way to resolve a trade dispute between the world's two biggest economies. potential implications of the Trump-Xi meeting for U.S. monetary policy are huge.

Oil fell on Thursday, erasing some of the previous session's strong gains, as traders await the G20 summit in Japan and a meeting of OPEC and other oil producers to decide on an extension of output cuts.
Gold traded steady on Thursday after the previous session's sharp fall, as investors looked forward to trade talks between Washington and Beijing later this week in Japan.

Research