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Dollar Index looks weak towards 101.50-101 while Euro can rise to 1.09/10 within the 1.07-1.10 range. Aussie has declined and can test the lower end of the 0.68/6850-0.71 region while Pound has risen and has scope to test 1.24/25 before a decline is seen. EURJPY is attempting to rise slowly but USDJPY looks ranged for now. USDCNY needs to break above 6.80 or higher to turn bullish while USDRUB looks ranged within 66-70. USDINR may be ranged within 81.20-81.60 for now while EURINR can slowly rise to 88.50-89.
The US Treasury and the German yields have bounced. Both will need to get a strong follow-through rise from here to avoid a fall back and a further fall. It is a wait and watch situation. The 10Yr and 5Yr GoI continues to remain mixed and can remain sideways.
Dow continues to fall. DAX has declined sharply but may get support at 14850-14800 from where a possible rise back can be seen. Nikkei has inched down further but the support near 26100-26050 is likely to limited the downside. Shanghai has risen sharply, breaking above the upper end of the 3250-3200 range. Nifty has declined but is managing to hold above its immediate support.
Brent and WTI have risen back sharply but needs a strong break above $87.50 and $82.50 to target the next key resistance on the upside. Gold has risen back sharply and is attempting to break above the resistance at 1930. Copper continues to trade within 4.3-4.1 range. Silver has rebounded sharply and may rise towards the upper end of the 23-25 range.
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