• Spot rupee ended at 90.17 to a dollar level after opening at 89.88 levels. The rupee failed to hold on to initial gains as FII/FPIs were exiting equity markets following renewed Tariff threats from President Trump. The US Congress has tabled a bill empowering President Trump to fix tariffs upto 500 on imports from countries who buy crude oil and uranium from Russia. Equity market benchmarks fell for the second consecutive day, losing about 0.8 today.
• DXY is trading steady above 99.00 level today ahead of the key labour data from the US tonight. Consensus expectations point to a 66k increase in payrolls, broadly in line with November’s 64k gain. Earnings are seen rising 0.3 m/m, while the unemployment rate is expected to edge lower to 4.5. Such an outcome would reinforce the prevailing “low hiring, low firing” narrative.
• EURUSD is trading lower at 1.1643 level while GBPUSD is trading at 1.3412 level. Data from France showed Ind. Output was -0.1 m/m and +0.3 y/y, better than market forecasts. In Italy, retail sales increased 0.5 m/m in November 2025, the same pace as in the previous month and coming in above market expectations of a 0.3 rise.
• Important data releases scheduled today: US: Non Farm Payrolls ; Average Hourly earnings m/m; Unempl. Rate; Housing Starts; Building permits; Prelim UoM Consumer sentiment; Inflation expectations.

Rupee opened marginally higher at 89.88 levels against previous close of 90.03. Equity market benchmarks are trading about 0.2 higher today.

DXY is trading at 98.80 level today. Dollar retained its earlier gains after the release of a positive economic data.

US initial jobless claims rose 8k to 208k in the week ending January 3, below expectation of 213k. Also, the US goods and services deficit stood at $29.4 billion in October, down 39 from September, due to a 2.6 m/m rise in Exports and a 3.2 dip in imports Wholesale inventories grew 0.2 in October compared to September's revised figures, coming in at $913.5 billion.