The Dollar Index is trading higher within its 97.75-98.75 range. EURUSD has dipped below 1.17 and failing to rise back can extend the fall to 1.16. EURINR is trading within 106.25-105 region. EURJPY & USDJPY can remain range bound between 183-185 & 154-158 region for some time. USDCNY can fall towards 6.95 or even further in the near term. Aussie is testing support near 0.6675. Need to see whether it holds or not. While Pound is moving within 1.34-1.35 region. The target of 1.36 is kept alive while it trades above 1.34. USDINR had moved above 90 on Friday and while the rise sustains, a test to 90.50 and higher can happen in the coming sessions. IN Services PMI & US Manufacturing ISM are scheduled to release today.

Dollar Index (98.60) is trading near the upper end of its 97.75-98.75 range. A sustained move above 99 will be needed to bring higher levels into picture. Until then, the 97.75-98.75 range can continue to hold.

EURUSD (1.1690) has slipped below 1.18-1.17 range and failing to see an immediate rebound from current levels can extend the fall to 1.16 or even lower.

EURINR (105.2731) is holding the 106.25-105.00 range for now.

EURJPY (183.68) need to see a break on either side of its 183-185 range to get further directional clarity.

Dollar-Yen (157.19) is rising as expected and can soon test 158 on the upside. Thereafter, whether it continues to trade within 154-158 or breaks higher will have to be seen.

USDCNY (6.9803) is coming off in line with our bearish view and while below 7, the target of 6.95 or even 6.90 can get achieved. A break below 6.98 will confirm the anticipated fall.

Aussie (0.6679) is testing the support around current levels which needs to hold to keep the target of 0.68 alive. Else, the pair can be vulnerable to fall towards 0.66 or slightly lower before rebounding later. Watch price action closely.

Pound (1.3431) has been consolidating within the 1.34–1.35 region over the last few sessions. The upside target of 1.36 remains intact as long as the pair trades above 1.34. Only a break below this level if seen, will lead us to revise our view.

USDINR (89.9750) rose to a high of 90.2550 on Friday. While the pair sustains above 90, there is scope for a further rise towards 90.50 and higher in the near term.

The US Treasury yields are moving up in line with our expectation. The 30Yr indicates that more rise is possible from here. That can aid the 10Yr to break its immediate resistance and move higher. The German Yields have risen sharply and are poised at their resistance now. A strong follow-through rise from here can take them higher. We will have to wait and watch. The 10Yr GoI sustains higher but stable. Bias is positive to see more rise in the coming days.

The US 10Yr (4.18%) and 30Yr (4.86%) Treasury yields are heading up towards 4.2% and 4.9% in line with our expectation. The 10Yr has resistance at 4.2%. But the 30Yr looks much stronger to see 5% and even 5.15%-5.2%. So, that can take the 10Yr also above 4.2% towards 4.3%-4.35%. We will have to wait and watch.

The German 10Yr (2.9%) and 30Yr (3.54%) yields have risen sharply and are at their key resistance. A further rise from here can take them up to 3%-3.05% (10Yr) and 3.7% (30Yr).

The 10Yr GoI (6.6062%) has been oscillating around 6.6%. Bias is positive on the chart to see a rise to 6.7%. Support is at 6.55%.

The Dow is expected to rise towards 49000-49500 while the Dax is slowly inching towards resistance near 25000 which if holds can lead to a fall towards 24000.  Nifty has risen well last week but has immediate resistance near 26500 which has to decisively break for further bullishness to set it. Else a range of 26500-25800/600 can continue to hold for some more time. Nikkei and Shanghai trade higher and are headed towards 52000 and 4000-4100 soon.

The Dow (48382.39, +0.66%) has risen slightly last week, bouncing well from the immediate support at 47850 seen on the daily candle chart. The index is likely to rise further towards 49000-49500.

DAX (24539.34, +0.20%) is slowly inching higher towards resistance near 25000, from where a decline towards 24000-23500 looks likely in the medium term. Only a sustained and decisive break above 25000, if seen, will make Dax further bullish.

Nifty (26328.55, +0.70%) rose well last week from 25878 to 26340. There is immediate resistance near 26500 a break above which is needed for Nifty to rise further in the medium term. Failure to break past 26500 shall keep the index within the 26500-25800/600 region for some more time.

Nikkei (51783.04, +2.87%) has risen sharply today. While above 51000, the index is bullish towards 52000-54000 in the coming weeks.

Shanghai (3993.15, +0.61%) has also risen and trades higher today. It is headed towards 4000-4100.

Brent and WTI are trading below resistance and may remain range-bound at 62–58 and 59–55. Gold has bounced from support and can rise towards 4500–4600. Silver has moved back above 75 with scope for 76–78 in the near term. Copper has rebounded and may advance towards 6.0–6.2. Natural gas is holding near 3.4, above which a bounce towards 3.6–3.8 is possible, though a break lower can drag it towards 3.2–3.0.

Brent ($ 60.79) and WTI ($ 57.29) , while they hold below their respective resistance levels, can continue to trade within ranges of $ 62–$ 58 and $ 59–$ 55 respectively.

Gold ($ 4412.30) has bounced back from its immediate support, in line with our expectation. While this support holds, a further rise towards 4500–4600 can be seen.

Silver ($ 75.14) , as expected, has bounced back above 75 today. A further rise towards 76–78 can be seen in the coming sessions.

Copper ($ 5.8615) has bounced back from its support, in line with our expectation. A further rise towards 6.0–6.2 can be seen in the near term.

Natural Gas ($ 3.4430) has fallen in line with our expectation. Immediate support is seen near 3.4. While this holds, a bounce back towards 3.6–3.8 can be seen. Alternatively, a break below 3.4 can drag prices down towards 3.2–3.0.

GMT 0:30 IST 06:00 JP PMI
…Expectations 49.8 …Previous 48.7

GMT 5:00 IST10:30 IN Services PMI
…Expectations 58.9 …Previous 59.8

GMT 7:30 IST 13:00 CH PMI
…Expectations 49.7 …Previous 49.7

GMT 14:00 IST 19:30 US Manufacturing ISM
… 49.3 …Expectations 48.3 …Previous 48.2

DATA LAST FRIDAY
===============
GMT 5:00 IST 10:30 IN Manufacturing PMI
…Expectations 55.7 …Previous 56.6 …Actual 55

GMT 8:00 IST 13:30 EU PMI
…Expectations 49.2 …Previous 49.6 …Actual 48.8

GMT 8:30 IST 14:00 UK PMI
…Expectations 51.2 …Previous 50.2 …Actual 50.6

GMT 14:30 IST 20:00 CA PMI
…Previous 48.4 …Actual 48.6