The Dollar Index has edged up but needs to reclaim 98 to move higher, else it risks slipping towards 97–96. EURUSD faces strong resistance near 1.18, with a dip towards 1.17–1.16 likely if it holds. EURINR has bounced from support and can rise towards 107. EURJPY remains range-bound with scope for a dip towards 183–182. Dollar-Yen is at a decisive zone near 156, which will decide the next move. USDCNY has fallen to key support near 7.00. Aussie is rising towards 0.68 before a possible reversal. Pound is slipping towards 1.3450. USDINR continues to trade within the 89.50–90.25 range while support holds.

Dollar Index (97.923) has slightly risen. If the index manages to bounce back well above 98 in the next few sessions, then it may extend towards 98.50-99 else there is room for a further decline towards 97-96 before a rebound is seen in the medium term.

EURUSD (1.1787) has crucial resistance at 1.18 on the 3-day candles and if that holds, it can fall towards 1.17-1.16. Failure to hold below 1.18 can take Euro to 1.19-1.20 before facing rejection from there in the longer run.

EURINR (106.2141) has risen from immediate support near 105-105.50, above which there is enough room for a rise towards 107.

EURJPY (184.13) trades in the middle of the broad range of 182-186. There can be some more dip to 183-182 before pausing for a reversal.

Dollar-Yen (155.96) is trading at a crucial level. A sustained trade below 156 can take it down to 155-154 on the downside. Else the price will have to rebound above 156 immediately to rise to 157-158. Watch price action near 156 to see which side the price moves to, within the broad 158-154 range.

USDCNY (7.0062) has fallen sharply as expected. It would be crucial to see if the pair can bounce from the current support at 7.00, else the pair can be vulnerable to fall further towards 6.95.

Aussie (0.6704) is moving up and can soon test the interim resistance near 0.68. While this holds, a reversal might take place over the coming weeks.

Pound (1.3503) has dipped back after testing the resistance near 1.3550 and can decline towards 1.3450 in the coming sessions.

USDINR (89.63) is holding above the immediate support near 89.50. As long as this support holds, the earlier mentioned range of 89.50-90.25 can hold for some time.

The US Treasury yields continue to oscillate within their range. We will have to wait for the range breakout to get clarity on the next move. The German Yields are struggling to rise. That keeps the chances alive of seeing an intermediate fall first and then a rise. The 10Yr GoI has come down sharply after the RBI announced some measures to increase the liquidity in the market. The yields can fall more from here. Our earlier view of seeing a rise stands negated now.

The US 10Yr (4.14%) and 30Yr (4.88%) Treasury yields continue to oscillate within their 4.1%-4.2% (10Yr) and 4.8%-4.9% (30Yr) range. We will have to wait for the range breakout to get clarity on the next move.

The German 10Yr (2.86%) and 30Yr (3.49%) yields are struggling to rise. That keeps the chances alive of seeing 2.8% (10Yr) and 3.4% (30Yr) on the downside first. Thereafter the yields can rise back to 2.95%-3% (10Yr) and 3.55%-3.6% (30Yr).

The 10Yr GoI (6.5398%) has declined sharply below 6.6%. The bias is now negative to see 6.5%-6.48% on the downside. Our earlier bullish view of seeing a rise to 6.75% stands negated now.

Dow and DAX continue to rise as expected and could target 49000 and 24400 respectively. Thereafter, a break past the mentioned targets is needed for further bullishness. Nifty can slowly reach towards 26400-26600 on a sustained rise past 24200. Nikkei and Shanghai can rise towards 51000-52000 and 4000-4100 respectively.

The Dow (48731.16, +0.60%) is headed towards our mentioned target of 49000 which is a near term resistance. Thereafter, it has to be seen if the index would break higher to continue its rise towards 49500 and higher or declines towards 48500-48000 for a correction.

DAX (24340.06, +0.23%) has risen along with the rise in the Dow. Near term resistance is seen at 24400 where, if the index faces rejection, can dip back towards 24200-24000.

Nifty (26139.70, -0.14%) tested 26236 but dipped to close lower. A sustained move above 26,200 is needed to push the index higher towards 26,500/600. Else a decline back towards immediate support at 26,000 can be possible.

Nikkei (50868.45, +0.91%) has finally broken above 50500/600 after seeing muted trade in the previous three sessions. We continue to keep our upside target of 51000-52000 intact for the.near term.

Shanghai (3,969.41,  +0.25%) has risen well above 3950 and could be headed towards 4000-4100 soon. Overall view is bullish.

Brent and WTI can move higher to test $ 64 and $ 60 before any reversal sets in. Gold remains steady and can extend the rally towards $ 4600–$ 4650. Silver stays strongly bullish towards $ 76–$ 78. Copper has broken above its range and can rise further towards $ 5.80–$ 5.85. Natural Gas has turned weak and can fall further towards $ 3.60–$ 3.40.

Brent ($ 62.37) and WTI ($ 58.49) can head higher to test $ 64 and $ 60 respectively in the near term before any reversal is seen.

Gold ($ 4533.60) is moving up steadily in line with our expectation and can extend the rally towards $ 4600–$ 4650 in the coming sessions.

Silver ($ 74.81) is continuing to move up sharply in line with our expectations and can extend the rally towards $ 76–$ 78.

Copper ($ 5.7185) has risen past $ 5.60, breaking its earlier range, and tested a high of $ 5.74 today. A further up move towards $ 5.80–$ 5.85 can be seen.

Natural Gas ($ 3.83) fell below $ 3.80 on Friday and tested a low of $ 3.72. A further decline towards $ 3.60–$ 3.40 can be seen in the coming sessions.

GMT 23:30 IST 05:00 JP Unemp
…Expectations 2.6 …Previous 2.6

DATA YESTERDAY
===============
NO MAJOR DATA RELEASED ON YESTERDAY.