USD/INR open flat-to-higher tracking steady dlr; Budget eyed

The Indian rupee little changed at 68.55 pair now at 68.63 against 68.4950 previous close.
Pair to tip in 68.40-68.75 range today.
Dollar/rupee open flat-to-higher Friday tracking the steady dollar ahead of the upcoming US non-farm payroll data and on caution ahead of Indias annual Budget. The greenback remained steady against its major counterparts on Friday as investors await for the upcoming US jobs data that could influence the course of near-term Federal Reserve policy. Meanwhile, the dollar index, which tracks the movement of the greenback against a basket of six major currencies, traded at 96.74 compared to 96.72. Investors expect US non-farm payrolls to have increased to 160,000 in June from 75,000 in May.

Dollar/rupee open flat-to-higher Friday tracking the steady dollar ahead of the upcoming US non-farm payroll data and on caution ahead of Indias annual Budget. The greenback remained steady against its major counterparts on Friday as investors await for the upcoming US jobs data that could influence the course of near-term Federal Reserve policy. Meanwhile, the dollar index, which tracks the movement of the greenback against a basket of six major currencies, traded at 96.74 compared to 96.72. Investors expect US non-farm payrolls to have increased to 160,000 in June from 75,000 in May.
The euro was steady at $1.1283 EUR= and headed for a weekly loss of 0.75%. A drop in euro zone government bond yields to record lows this week, in sympthy with the global debt rally, has weighed on the single currency.

Crude oil prices fell on Friday, pressured by concerns over the outlook for global economic growth. Front-month Brent crude futures LCOc1 were down 0.1% at $63.23 per barrel.
Gold prices inched up on Friday and were heading for their seventh consecutive weekly gain, with investors waiting for U.S. non-farm payrolls data later in the day for clues on the outlook for interest rate cuts.

Research