• Spot rupee closed at 85.90/91 to a dollar level after opening at 85.74/75 level and previous close of 85.39/40 level. The rupee was under pressure as corporates and NDF players bought dollars. Equity market benchmarks ended about 0.3 higher today.
• DXY is trading at 99.08 level. Dollar index is trading slightly lower as investors awaited a series of labour market reports in the coming sessions. Today;s ADP Private Sector payrolls report is followed by Weekly jobless claims tomorrow and May NFP report on Friday.
• Data released from Eurozone showed EZ Services Sector contracted modestly in May with the final PMI Services reading slightly lower at 49.7, down from April’s 50.1. Composite PMI was lower at 50.2. National Performance were mixed. Italy led with a 13-month high of 52.5, while Germany and France both remained in contraction with Germany posting a five-month low of 48.5 and France improving to a nine-month high of 49.3. Inflation signals from the PMI survey were also mixed.
• From the UK, Services sector returned to growth at 50.9, rebounding from April’s 27-month low of 49.0. Composite PMI also edged into expansion at 50.3, up from 48.5. While job market indicators are soft, input cost inflation is showing signs of softness.
• Important data releases scheduled today: US: ADP Non Farm Payrolls change; Final Services PMI; ISM Services PMI; Beige Book survey

The rupee has opened weaker at 85.74 levels, on expectations that the RBI will cut interest rates this week. Equity market benchmarks are trading about 0.2 higher in opening trades.

DXY is trading higher at 99.22 level. The dollar index climbed higher overnight as investors assessed a mixed batch of economic data for clues on Federal Reserve’s interest rate outlook. On the labor front, JOLTs data showed job openings unexpectedly rose to 7.39 million in April, up from March’s revised 7.2 million and well above the 7.1 million forecast—signaling continued strength in the labour market.