The Rupee opened steady against the dollar ahead of the release of crucial data from the US, including the advance GDP estimates for Jan-Mar later today, and personal consumption expenditures data due Friday. The dollar index has remained steady ahead of the release of the US GDP advance estimates for Jan-Mar. The economy is expected to have delivered another quarter of strong performance, thanks to a resilient labour market, driving consumer spending, according to Reuters. Economists polled by Reuters estimated that GDP expanded at 2.4% on an annual basis in the first quarter. The economy grew 3.4% in Oct-Dec. The dollar index, which measures the strength of the greenback against a basket of six major currencies, was at 105.78. The index was at 105.82 on Wednesday and 105.69 on Tuesday. Moreover, dealers expect inflows from foreign portfolio investors, which is expected to support the Indian currency. However, a continuous dollar demand from oil marketing companies is expected to offset the support the rupee is likely to get from inflows. Due to this, they expect that the dollar/rupee pair is likely to move in a narrow range. Market participants are also likely to keep an eye on the Bank of Japan's policy meeting outcome on Friday, for which the meeting began today. The Bank of Japan is expected to leave its policy unchanged on Friday, having raised interest rates for the first time since 2007 just last month. Oil prices declined slightly on Wednesday due to reduced concerns regarding conflict in West Asia and a slowdown in business activity in the world's largest economy. However, a fall in US crude oil inventories limited the extent of these losses. Jun futures (per barrel): $82.81 Wednesday vs $83.36 Tuesday. On Wednesday, gold prices remained broadly steady as concerns over tensions in West Asia alleviated, while investors prepared for upcoming US economic data that could provide insight into the US Fed's approach towards interest rates. Jun gold futures (ounce): $2,338.40 Wednesday vs $2,342.10 Tuesday......