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Market Roundup

* The late recovery in the greenback and weaker equities could weigh on the rupee in the opening trade. The geopolitical uncertainty, higher crude oil prices and foreign fund outflows will further weigh on the local rupee.

* The implied opening from forwards suggests the spot may start trading around 83.47 and take the cues from the RBI guidance for inflation and growth. Spot USDINR closed at 83.4450 on Thursday. The rupee weakened to the lowest level at market close. Technical set-up remains bullish for the pair and breaking of 83.50 will pave the way for 83.70 and 84 while on the downside support has been seen in the vicinity of 83.20 to 83.

* The Reserve Bank of India will likely keep its benchmark repurchase rate at 6.5% for a seventh straightmeeting.

* Shares in Asia fell Friday tracking US stocks, as interest rate uncertainty and geopolitical tensions weighed on sentiment. The yen extended a rally to hit a two-week high as Bank of Japan Governor Kazuo Ueda stoked bets about an additional interest rate hike later in the year.

* Elsewhere, oil edged higher Friday asIsraeli Prime Minister Benjamin Netanyahu said at a security cabinet meeting that his country will operate against Iran and its proxies and will hurt thosewho seek to harm it.

* Fed Bank of Minneapolis President Neel Kashkarisaid Thursday that rate cuts may not be needed this year if progress on inflation stalls. Meanwhile, Cleveland Fed counterpart Loretta Mester suggested the central bank could be getting close to the level of confidence it needs to begin lowering interest ratesin the next few months

* US nonfarm payroll data due later Friday is expected to show more than 200,000 new roles added to the economy in March further sign of robust activity that may lead the Federal Reserve to keep rates higher for longer.

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