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* USDINR closed 4 paise lower at 74.23 yesterday

* Unemployment date would have to drop substantially or inflation would have to stay high to have a rate hike in 2022: Fed's Waller

* Chinese manufacturing PMI at 50.9 vs 51 previous, non manufacturing PMI at 53.5 vs 55.2 previous

* Dollar appreciates to fresh one week high ahead of employment data

* Japanese industrial production fell 5.9% in April vs 2.1% expected

* US employment data, Japanese consumer confidence, UK current account and Euro inflation data in focus

OUTLOOK - USDINR

Rupee opened 9 paise lower at 74.28 from its previous close against the US dollar and it finally closed a net 4 paise lower at 74.23 yesterday. USDINR had gained as far as the intraday high of 74.19 and fell to an intraday low of 74.29. The dollar index which compares the strength of the dollar against 6 major currencies closed 0.21% higher at 92.07. Brent crude futures fell 0.79% to trade at $75.28/barrel. USDINR near futures are at 74.4975 with the next support seen at 74.4383 and next resistance seen at 74.5408 ahead of market opening today.

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