The Dollar Index and EURUSD can head towards 98-96 and 1.15-1.16 respectively. EURINR has interim resistance at 97.50, break past which will be needed to rise further. Else, the cross can fall back towards 96.50-96.00. EURJPY can broadly remain within the 165-160 region. USDJPY can extend the fall to 142-140 in the coming sessions. AUDUSD is back within the 0.650-0.635 range and the Pound is trading just near the resistance at 1.36. The USDCNY can test the support near 7.15-7.125 before halting. The USDINR yesterday slipped to the low of 84.7750. Now, we need to see whether it rises past 85.25 or extends the fall towards 84.50. US Durable Goods, US Case Schiller and US Consumer Confidence data releases are scheduled today.

Dollar Index (98.814) continues to trade below 99 and can fall towards 98-96 before halting. Immediate resistance is coming at 100.0-100.5.

EURUSD (1.1402) above 1.13 looks bullish towards 1.15-1.16 in the near term.

EURINR (96.9860) has been oscillating within the 96.50-97.50 region since the last few sessions. A break past the resistance near 97.50 if seen, can take it towards 98-99. Else, a fall back towards 96.50-96.00 can happen initially before rising back.

EURJPY (162.40) faces an interim resistance at 163, below which a fall to 160 can happen. Overall, its broad range of 165-161/60 can hold for some time before a decisive break is seen on either side.

Dollar-Yen (142.24) is coming off as anticipated and can soon test 142-140 before possibly halting.

USDCNY (7.1860) yesterday observed the low of 7.1680 before recovering a bit from there. Immediate support is coming between 7.15-7.125 region which can be tested soon in the near term before attempting to rise back higher.

Aussie (0.6482) failed to sustain above 0.65 and started coming off from 0.6537 itself. Currently, it is back within 0.650–0.635 range and while below 0.655 the range can persist in the near term.

Pound (1.3574) is near our mentioned target of 1.36. A break above can target 1.40/41, while a reversal from here may drag it back to 1.34 or lower. Watch price action closely.

USDINR (85.04) as anticipated tested the low of 84.7750 before closing higher. A break above 85.25 is now needed to trigger further upside towards 85.35-85.50. Failure to do so can keep it vulnerable for a decline towards 84.50 on the downside.

The US Treasury Yields have dipped. They look vulnerable for a fall from here rather than rising back. The price action after this fall will need a close watch. The German yields sustain higher. They keep the bullish view intact. More rise is possible in the coming days. The 10Yr GoI continues to oscillate in a narrow range. The trend is down, and the yield has room to fall more.

The US 10Yr (4.49%) and 30Yr (5.01%) Treasury yields remain lower. They look vulnerable for a fall to 4.4% (10Yr) and 4.9% (30Yr) from here rather than rising back to 4.6% (10Yr) and 5.1% (30Yr).

The German 10Yr (2.56%) and 30Yr (3.06%) yields remain higher and stable. The bullish view is intact to see a rise to 2.8% (10Yr) and 3.2% (30Yr).

The 10Yr GoI (6.2539%) continues to oscillate around 6.25%. remains stable around 6.25%. While below 6.3%-6.35%, the bias will remain bearish to see 6.2% and lower levels.

The Dow was closed yesterday. It could rise towards 42500 while above support at 41000. Dax could rise to 25000-25200 if it sustains trade above 24000. Nifty rose yesterday and needs to break above 25080 to move up further. Nikkei has scope to rise towards near term resistance zone of 38000-39000 while Shanghai can trade within 3340-3400 region. Break below 3340 would be bearish to 3300 or lower in the medium term.

The Dow (41603.07, -0.61%) was closed yesterday. While above immediate support at 41000, there is scope for a rise towards 42500 in the coming days.

DAX (24027.65, +1.68%) trades higher today. Dax has broken above the immediate resistance level of 24000 on the near-term charts which if sustained can be further bullish towards 25000-25200.

Nifty (25001.15, +0.60%) rose well to test 25079 yesterday, in line with our expectations. A sustained break past 25080 is needed for the index to rise further towards 25200-25400 else, if the resistance at 25080 holds, we may expect a decline to 24500 initially. Watch price action near current levels.

Nikkei (37469.23, +0.19%) could face a series of resistances between the 38000-39000 region which needs to be surpassed to turn out bullish in the medium term. A decline seen from anywhere between 38000-39000 can lead to a corrective decline to 37000-36000.

Shanghai (3349.51, +0.080%) could trade within 3340-3400 region for the near term. Failure to hold trade above 3340 in the near term can be bearish to 3300 or lower.

Brent and WTI are expected to remain range-bound between $ 67–$ 63 and $ 64–$ 60, respectively, until a breakout occurs. Gold is moving up as anticipated, potentially reaching $ 3,400–$ 3,450 in the coming weeks, while Silver is likely to trade within $ 34–$ 32 if it stays below $ 34. Copper remains bullish as long as it holds above $ 4.75/$ 4.70, with targets of $ 5.0–$ 5.1. Natural gas may rise towards $ 3.8–$ 4.0 if it holds above $ 3.5.

Brent ($ 64.55) and WTI ($ 61.29) can continue to trade within the range of $ 67–$ 63 and $ 64–$ 60 respectively until a decisive breakout takes place.

Gold ($ 3,337.60) is moving up as expected, with potential to target $ 3,400–$ 3,450 in the coming weeks.

Silver ($ 33.53) is struggling to break above $ 34. As long as it remains below this level, it is likely to trade within the range of $ 34–$ 32 for some time.

Copper ($ 4.8065) has dipped slightly, but while it holds above the immediate support at $ 4.75/$ 4.70, the outlook remains bullish towards $ 5.0–$ 5.1 in the near term.

Natural Gas ($ 3.5740) has experienced a slight dip, but as long as it stays above $ 3.5, the view of a rise towards $ 3.8–$ 4.0 in the near term is maintained.

9:00 14:30 EU Biz Climate
… Exp 94.5 … Expected – … Previous 93.6

12:30 18:00 US Durable Goods Orders
… Exp -0.5% … Expected – … Previous 9.2%

13:00 18:30 US Case Schiller
… Exp – … Expected – … Previous 4.5%

14:00 19:30 US Cons Conf
… Exp 87.1 … Expected – … Previous 86.0

DATA Yesterday
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No major data released yesterday.