Dollar Index trades above 104 an could trade within 104.50-103 region for some more time. Euro too needs to rise above 1.08 to move higher else can be ranged above 1.0760/0750. EURJPY and USDJPY can move higher towards 159-160 and 148 respectively while Pound and Aussie can fall towards 1.26/25 and 0.64/63 respectively. USDCNY looks bullish towards 7.30/32 while USDRUB may face rejection from 98 to fall within the 98-94 region. EURINR can be bullish above 89 while USDINR can range within 82.80-82.60/50.

Dollar Index (104.227) has been trading within the broad 103-104.50 region and needs a break on either side to give clarity on further direction from here. While below 104.50, the mentioned range may continue to hold.

EURUSD (1.0784) briefly attempted to break above 1.08 but seems to have paused near 1.08. Immediate support is seen near 1.0760/0750 which could hold for sometime but to see a sustained break above 1.08 could take some more time.

EURJPY (158.22) is rising from 157 and could continue to rise towards 159-160 in the next few sessions. View is bullish above 157.

Dollar-Yen (146.71) has scope to rise towards 148 while above 144. The immediate view is bullish while 144 acts as a decent support for the near term.

USDCNY (7.2906) has risen and can test 7.30/32 soon. Sustained break above 7.30 can trigger a rise to 7.35/40 eventually in the longer run.

Pound (1.2616) can head towards 1.27 which needs to break in order to move up further to 1.28. The earlier range of 1.28-1.26 has been revised to 1.27-1.25 with downside bias below 1.27.

Aussie (0.6428) has fallen sharpy and could test 0.64/63 before pausing.

USDRUB (96.9515) could face rejection while below 98 and again fall towards 94 in the next few sessions. View is bearish from 98.

USDINR (82.7525) may continue to trade within 82.80-82.60/50

EURINR (89.2480) is likely to hold above 89 for the near term. A break below 89, if seen and sustained can be further bearish towards 88.50.

The US Treasury yields sustain higher and remain bullish. The yields can rise more. The German yields have inched up further and are keeping the bullish view intact. There is room to rise further. The 10Yr GoI has risen well and needs to see if that sustains to move higher from here itself. The 5Yr GoI is still within its narrow range and looks mixed.

The US 10Yr (4.20%) and the 30Yr (4.30%) yields sustain higher. A rise to 4.3%-4.4% (10Yr) and 4.4%-4.5% (30Yr) can be seen first before the yields target 4.5%-4.6% (10Yr) and 4.6%-4.7% (30Yr) eventually. Support is at 4.1%-4% (10Yr) and 4.2%-4.1% (30Yr).

The German 10Yr (2.57%) and the 30Yr (2.69%) yields continue to move up. View remains bullish to see 3%-3.1% while above the support at 2.4% (10Yr) and 2.5% (30Yr).

The 10Yr GoI (7.2054%) has risen well. If it sustains above 7.2%, then the fall to 7.15%-7.13% can be avoided and the rise to 7.35% can happen from here itself.

The 5Yr GOI (7.1916%) on the other hand has to breach its 7.16%-7.22% range to clear the way for the rise to 7.3% and 7.45%. The chances of the dip to 7.13%-7.1% has not been negated completely yet.

DAX remains lower and looks vulnerable to fall further in the near term. Nifty has risen above the resistance at 19500 and can now move up further from here. Nikkei has come down as the resistance at 33000 has held well. Shanghai has scope to rise towards 3200-3225 while above 3125.

Dow (34837.71%) was closed yesterday.

DAX (15824. 85, -0.10%) remains lower and looks vulnerable to break 15800 and fall to 15500-15400. A strong rise past 16000 is needed to negate this fall.

Nifty (19528.80, +0.48%) has risen well to close above 19500. Good support will now be at 19400 while above which the outlook is bullish to see 19800-20000.

Nikkei (32866.50, -0.09%) has come down as the resistance at 33000-33200 seems to be holding well. While it remains below 33200, a fall towards 32000 is possible.

Shanghai (3157.15, -0.65%) rose to a high of 3177.06 in line with expectations for a rise towards 3175 and has fallen back from there. Immediate support is at 3125. While that holds, a bounce towards 3200-3225 might be possible. Overall a range of 3225-3075 could persist for some time.

Brent is attempting to break above the resistance at $ 89 whereas WTI sustains higher above $ 85. Gold and Copper have scope to fall further while below the resistance at 1980 and 3.90 respectively. Silver and Natural gas look bearish for the near term.

Brent ($ 88.76) is attempting to break above the resistance at $ 89. A sustained rise past $ 89 can take it higher towards $ 90-90.50.

WTI ($ 85.74) is holding higher above $ 85. While above $ 85, the view is bullish for a rise towards $ 88 or $ 90.

Gold (1961.30) remains well below the resistance at 1980. While below 1980, a fall towards 1940 might be possible. Only a strong rise past 1980 could pave the way towards 2020.

Silver (24.23) continues to fall. View remains bearish for a test of 24-23.50 before a pause can be seen.

Copper (3.8215) has declined towards 3.80. A further fall towards 3.70 can be seen while it stays below the resistance at 3.90.

Natural Gas (2.65) has scope to test the support at 2.6-2.5 before a bounce back can be seen towards 3.0.

4:30 10:00 RBA Meeting
Expn – …Expected 4.10% …Previous 4.10%

5:00 10:30 IN Services PMI
Expn 60.7 …Expected 61.0 …Previous 62.3

DATA YESTERDAY:
————-
5:45 11:15 CH GDP
Expn – …Expected – …Previous 0.3% …Actual 0.0%