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Market Roundup 

* The Indian rupee is expected to open flat following Asian peers. The foreign fund outflows, the surge in imported commodity prices and mixed Asian equities could weigh on the local unit. On Monday, spot USDINR gained 4 paise to 83.14. Technically, the range has been shifted lower from 83.60-83.30 to 83.30-83.01. The bias remains negative for the paise as long as it trades below 83.60.

* Traders will this week be studying fresh inflation data from Australia to Japan, the euro region and the US. Bank of Japan Governor Kazuo Ueda and his deputy indicated there is scope for gradually raising interest rates now that the nation has shifted away from an inflation norm of 0%. 

Forex:

* The dollar fell against all G-10 peers in thin trading conditions with UK and US markets closed for holidays.

* The markets lower their bets on interest rate cuts by the US Fed and see a 49% chance of rate cuts in September, down from 63% recorded a week ago, according to the CME FedWatch tool.

* USD/JPY falls as much as 0.1% to 156.77 after BOJ Deputy Governor Shinichi Uchida said the end of the battle with deflation is in sight, while Governor Kazuo Ueda said the central bank will move cautiously to anchor inflation expectations at 2%.

* While an ECB rate cut in June has been widely telegraphed, subsequent steps are less clear given uncertainty over wage growth and factors like the fighting in the Middle East. Data this week may show headline inflation in the euro region ticked up in May. 

Equities:

* Asian stocks traded in a narrow range on Tuesday and the dollar slipped ahead of a swath of inflation prints that are expected to influence the direction of global monetary policy. 

Commodities:

* In commodities, gold steadied as traders awaited US inflation data. Oil advanced as the focus shifted to an OPEC+ supply meeting on Sunday and US demand at the start of the summer driving season.

* An Israeli airstrike triggered a fire that killed 45 people in a tent camp in the Gazan city of Rafah, officials said on Monday.

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