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* USDINR closed 29 paise higher at 74.07 yesterday

* FBIL set the reference rate for USDINR at 74.9404 and Euro at 90.2467

* US jobless claim, home sales and gdp data in focus after fed dovish stance downs dollar

* China's economy completely recovered from Covid 19 shock: Goldman Sachs

* Japan April manufacturing PMI at 3yr high of 53.6

* China April manufacturing PMI at 51.1 vs 51.8 expected vs 51.9 previous

OUTLOOK - USDINR

Rupee opened 16 paise higher at 74.20, from its previous close against the US dollar and it finally closed a net 29 paise higher at 74.07 yesterday. USDINR had gained as far as the intraday high of 73.94 and fell to an intraday low of 74.23. The dollar index which compares the strength of the dollar against 6 major currencies rose 0.09% and closed at 90.69. Brent crude futures rose 1.07% to trade at $67.99/barrel. USDINR near futures are at 74.3725 with the next support seen at 74.1967 and next resistance seen at 74.5942 ahead of market opening today.

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