The Dollar Index has dipped on comments from Trump that the US-Iran deal is close to signing an agreement which could favor most other currencies today against the Dollar. Euro, Aussie, Pound, Yuan and Rupee could face some strength in the near term towards 1.17/1.18, 0.7250/0.73, 1.36/37 and 6.76/75 respectively while USDJPY may trade within 160-158 region. EURJPY can face rejection from 185 and dip towards 182 else needs a sustained rise above 185 to rally higher. USDINR has scope to decline to 95.25-95.00 in the near term which could be a strong support.

Dollar Index (99.00) has come off sharply on comments from Trump that the deal with Iran is close to reaching a final agreement. Once the agreement is signed, the Dollar Index can decline decently towards 98.50-98 or even lower in the coming days.

EURUSD (1.1639) trades above 1.16 and a decline in the Dollar Index of seen can be bullish for the Euro towards 1.18 or higher in the medium term.

EURINR (111.119) has fallen sharply last week breaking below our expected support at 111.35. There is scope for a further dip towards 111-110.50 soon.

EURJPY (184.91   has been hovering near 185 which could be an important resistance in the very near term. A sustained break above 185 is necessary for an upmove towards 187-188 else a decline from 185 can take it down to 182 soon.

Dollar-Yen (158.87) has been slowly rising over the last 10-12 sessions and has fair scope to test 160-161 on the upside before a rejection is seen from there for the medium term.

USDCNY (6.78)   has dipped below 6.79 and while that sustains a further decline to 6.75 looks possible in the medium term.

Aussie (0.7169) can gain some strength to rise back towards 0.7250-0.73 on the weaker US dollar. However, for now a broad range of 0.71-0.73 is expected to hold for the next couple of weeks at least.

Pound (1.3479) is likely to head towards the upper end of the 1.35-1.33 range. A break above 1.35, if seen can take it further up towards 1.37.

USDINR (95.68) , saw a decent decline on Friday breaking below 96. With scope for a further dip to 95.25-95.00 in the near term, it could become a strong buy zone for the medium term.

The US Treasury and the German Yields continue to trade lower. Both have room to fall further from here to test their support. We expect them to rise back from their support and resume the broader uptrend. The 10Yr GoI seems to be struggling to get a strong follow-through rise. It can remain range bound for some time. However, the bias is positive to get a bullish breakout of the range and a fresh rise eventually.

The US 10Yr (4.56%) and 30Yr (5.06%) Treasury yields continue to trade lower. They can fall to 4.5%-4.45% (10Yr) and 5%-4.95% (30Yr) first and then rise back again.

The German 10Yr (3.04%) and 30Yr (3.57%) yields are coming down towards 3%-2.95% (10Yr) and 3.55%-3.5% (30Yr) as expected. Thereafter we can expect them to bounce back again towards 3.1%-3.2% (10Yr) and 3.65%-3.7%.

The 10Yr GoI (7.0917) seems to be struggling to breach 7.15%. A range of 7%-7.15% is in play right now. The bias is positive to breach 7.15% eventually and rise to 7.25%.

Dow continues to strengthen on optimism surrounding the US-Iran peace talks and can rise further towards 51500-52000. DAX has moved above 25000 and needs to sustain above this level for a further rise towards 25500-26000. Nifty remains bullish and can see a gap-up opening near 23,900-24,000, with further upside towards 24250-24500 possible. Nikkei has surged sharply beyond expectations after crossing 64000 and can extend gains towards 66000-66500. Shanghai tested a low of 4067 and has bounced back from there, with a further rise towards 4150-4200 possible in the coming sessions.

Dow (50,931, +0.54%) has risen in line with our expectations due to optimism surrounding the US-Iran peace talks and can rise further towards 51500-52000.

DAX (25086.65, +0.56%) has risen above 25000 and needs to sustain above this level to see a further rise towards 25500-26000.

Nifty (23,719.30, +0.27%) rose in line with our expectations on Friday. It can see a gap-up opening near 23,900-24,000 today due to optimism surrounding the US-Iran peace talks. A further rise towards 24250-24500 can be seen.

Nikkei (65135.18, +2.93%) has surpassed 64000, exceeding our expectations, and tested a high of 65300 so far. A further rise towards 66000-66500 can be seen.

Shanghai (4112.86, +0.87%) tested a low of 4067 and has bounced back from there. A further rise towards 4150-4200 can be seen in the coming sessions.

Brent and WTI have fallen sharply amid positive progress in the US-Iran peace talks, and if the agreement is finalized, prices can decline further towards $ 95-$ 90 and $ 90-$ 85 respectively. Gold and Silver have bounced back contrary to expectations, but the broader bearish outlook towards $ 4400 and $ 70 remains intact. Copper has recovered in line with expectations and can rise further towards $ 6.60. Natural Gas is holding above the key $ 3 support, and while this continues, a rise towards $ 3.20-$ 3.25 can be seen in the coming sessions.

Brent ($ 98.45) and WTI ($ 91.87) have fallen sharply due to positive developments in the US-Iran peace talks. If the agreement gets finalized, a further decline towards $ 95-$ 90 and $ 90-$ 85 respectively can be seen in the near term.

Gold ($ 4573.10) and Silver ($ 78.68) have bounced back contrary to our expectations. However, our view remains intact for a decline towards $ 4400 and $ 70 respectively in the near term.

Copper ($ 6.43) has bounced back in line with our expectations and can rise further towards $ 6.60.

Natural Gas ($ 3.00) is trading just above $ 3, and while it remains above this level, a rise towards $ 3.20-$ 3.25 can be seen in the coming sessions.

GMT 13:00 IST 18:30 US Case Schiller
0.82 …Previous 0.89

GMT 14:00 IST 19:30 US Cons Conf
95.05 …Previous 92.80

DATA FRIDAY
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GMT 23:01 IST 04:31 UK Cons Conf
…Market -28 …Previous -25 …Actual -23

GMT 23:30 IST 05:00 JP CPI
…Market 1.70 …Previous 1.44 …Actual 1.35

GMT 9:00 IST 14:30 GER IFO Business Climate
…Market 84.0 …Previous 84.4

GMT 9:00 IST 14:30 GER IFO Business Situations
…Market 83.5 …Previous 83.3