The Dollar Index needs to see a confirmed break past 99 to head towards 100-101 in the near term. While below 1.17, Euro can be vulnerable to extend the fall towards 1.15-1.14. EURINR is trading near the lower end of its 105-103 range. If the ongoing rise sustains, EURJPY can target 178-180, and USDJPY can target 154-155 in the near term. USDCNY for now can consolidate between 7.10-7.15 region. The Aussie and Pound are expected to trade within 0.655-0.665 & 1.33-1.35 region respectively before a breakout occurs. USDINR continues to remain stuck within 88.60-88.80 region.

Dollar Index (98.756) extended its rise to 99.06 before pulling back slightly. A decisive break above 99 is needed to open the way to 100-101 levels, with immediate support seen at 98.

EURUSD (1.1640) tested a low of 1.1598 but later recovered. However, as long as it stays below 1.17, it remains vulnerable to extend the fall to 1.15-1.14. A break below 1.16 would confirm this move.

EURINR (103.3168) is trading near the lower end of its 105-103 range and a decisive break on either side will be needed for further clarity.

EURJPY (177.30) is rising in line with our bullish view and can test our targets of 178–180 in the medium term before halting.

Dollar-Yen (152.51) met the initial target of 153 before pulling back slightly. While it stays above 150, a further rise to 154-155 is possible before peaking out.

USDCNY (7.1322) has risen sharply today. However, a break above 7.14/15 is needed to turn the outlook more bullish; otherwise, it may continue consolidating within the 7.10-7.15 region.

Aussie (0.6595) is consolidating between 0.655-0.6650 region since the last few sessions. A decisive break on either side will be needed for further clarity.

Pound (1.3400) tested the low of 1.3370 before recovering a bit. Chances are that pair can consolidate between 1.33-1.35 region for some time before a breakout occurs.

USDINR (88.7040) continues to trade within the narrow range of 88.60-88.80. The targets of 89.00-89.10 are kept open for now.

The US Treasury yields have dipped further and are at their key support. Failure to rise back from here will negate the rise that we had expected. It will then drag the yields lower. The German yields are coming down in line with our expectation. They can dip further to test their support and then rise back again to keep the broader uptrend intact. The 10Yr GoI is oscillating around its support. It has to get a strong bounce from here to go up and avoid falling more. We will have to wait and watch.

The US 10Yr (4.11%) and 30Yr (4.71%) Treasury yields have dipped further. A break below 4.1% (10Yr) and 4.7% (30Yr) will negate the rise to 4.2%-4.3% (10Yr) and 4.8%-4.9% (30Yr) that we had expected earlier. It will then take the yields down to 4.05%-4% (10Yr) and 4.65%-4.6% (30Yr).

The German 10Yr (2.68%) and 30Yr (3.26%) yields are coming down towards 2.65% (10Yr) and 3.2% (30Yr) in line with our expectation. Thereafter we can expect the yields to rise back 2.8% (10Yr) and 3.4% (30Yr).

The 10Yr GoI (6.5030%) is hovering around the support at 6.5%. It has to get a strong bounce from here to go up to 6.6% again. Else a fall to 6.45%-6.4% is possible. We will have to wait and watch.

The Dow looks stable and can fall to 46600-46500 before bouncing from there. The Dax has risen well and upon sustained rise past 24600, a test of 25000 looks possible. The Nifty has been stable. If it breaks below 25000, it can get dragged back into the 24800-24600 zone. Watch price action near 25000. The Nikkei seems to be gradually rising towards 50000. Shanghai has opened today after a week long holiday and trades in the green. A rise past 3900 can take it to 4000.

The Dow (46601.78, -0.0026%) remained stable. As expected, the Dow seems to be falling towards 46600-46500 region from where a rebound can be expeyin the medium term.

DAX (24597.13, +0.87%) has finally broken above 24500 and is now close to breaking above 24600 too. If the rise sustains we may look for a rise to resistance at 25000 from where a decline can be seen in the medium term.

Nifty (25046.15, -0.25%) dipped yesterday. A break below 25000, if seen can take the index back to 24800-24600 region in the near term.

Nikkei (48296.35, +1.18%) seems to be gradually rising towards our mentioned 50000. Immediate view looks bullish.

Shanghai (3896.82 +0.36%) is trading in the green and headed towards 3900. A break above 3900 if seen and sustained can take it towards 4000.

Brent and WTI have both reversed lower after testing resistance near $ 67 and $ 63 respectively, keeping the short-term outlook bearish towards $ 64 and $ 60, with potential for deeper declines if these supports break. Gold and Silver continue to show strong bullish momentum, with Gold holding firm above $ 4000 and likely to rise towards $ 4100-4200, while Silver, after hitting a record high of $ 49.20, could extend gains to $ 49.50-50.00 if it stays above $ 48. Copper remains firm and can move towards $ 5.15-5.20, whereas Natural Gas has weakened sharply and may fall further towards $ 3.25-3.20 as long as it stays below $ 3.5.

Brent ($ 65.81) has reversed after testing a high of $ 66.54 yesterday. While resistance near $ 67 holds, we expect a decline towards $ 64 in the near term, followed by a further fall towards $ 62-60.

WTI ($ 62.12) tested resistance near $ 63 and has since retreated to current levels. A further drop towards $ 60 looks likely in the near term, and a break below this level could extend the fall towards $ 58-56.

Gold ($ 4030.10) continues to move higher and tested a fresh all-time high of $ 4081 yesterday. The bullish momentum remains intact, with potential to rise further towards $ 4100-4200.

Silver ($ 47.98) rose sharply as expected, reaching a new all-time high of $ 49.20 yesterday. Immediate support lies near current levels, and while this holds, we expect a further rise towards $ 49.50-50.00 in the near term. Alternatively, a break below $ 48 could drag the price down to $ 47.50-47.00.

Copper ($ 5.1175) is moving higher in line with expectations and could rise towards $ 5.15-5.20 in the near term.

Natural Gas ($ 3.3130) has dropped sharply as expected, following a mixed US weather forecast that could reduce heating demand. While below $ 3.5, a further fall towards $ 3.25-3.20 looks likely in the near term.

NO MAJOR DATA RELEASES FOR TODAY.

DATA YESTERDAY
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NO MAJOR DATA RELEASED YESTERDAY.