Anna 
On Thursday, the Indian rupee is anticipated to open weaker as heightened demand for the safe-haven U.S. dollar prevails amid poor risk appetite.
Non-deliverable forwards indicate an opening around 83.35-83.36 against the dollar, compared to the previous session’s 83.3250.
The decline in Brent crude by nearly 4% on Wednesday, dropping below $75 per barrel, its lowest since late June, has contributed to concerns about demand and a nearly 10% decline in Brent this month.
Despite inflows of over $3 billion into Indian equities in December, as per data from the National Securities Depository, the rupee’s prospects remain under pressure.
Forex traders express skepticism about the sustainability of any recent relief for the rupee, citing ongoing oil selloffs and substantial capital flows.
In terms of technical analysis, support for USD/INR is seen around 83.20, with resistance at 83.40.
U.S. equities experienced a pullback overnight, and Asian markets followed suit, with Japan and Hong Kong leading the decline. Asian currencies, including the Korean won and the Indonesian rupiah, also weakened.
The dollar index recorded its third consecutive day of gains on Wednesday, despite soft U.S. economic data causing a further drop in U.S. bond yields. The 10-year U.S. Treasury yield fell to 4.10% after U.S. private payrolls showed a slower-than-expected increase.
ANZ noted a “deceleration in hiring momentum in the U.S.” and highlighted the market’s focus on the upcoming November labor market report, with U.S. non-farm payrolls data expected on Friday. Economists polled anticipate 180,000 job additions in November, though ANZ suggests that recent soft data may prompt a downward revision in market expectations.
