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Dollar Index can trade within 102-103 while Euro could rise towards 1.10 while above 1.0870-1.09. EURJPY and USDJPY have declined sharply and could be bearish towards 157 and 143 respectively. USDCNY could rise slowly towards 7.18/20 while above 7.10/12. Aussie could be trading within 0.6650-0.6750 for the next few sessions while Pound could rise towards 1.28 or higher in the near term. USDRUB could trade within 90-92 for the next few sessions while EURINR may hold within 90.50-91.50. USDINR needs to rise from 83 else could break lower to test 82.90 before the expected rise is seen.
The US Treasury yields have dipped slightly. The yields can rise further from here to test their resistances. Thereafter the overall downtrend can resume. The US CPI data release on Thursday will be important to watch.The German yields remain stable. Near-term view is positive to see a rise from here before reversing lower again. The 10Yr and 5Yr GoI are coming down as expected. Bias is negative to see more fall going forward.
Dow Jones has risen back sharply but needs to rise above 37800 to negate the danger of falling. DAX has risen further and may look to rise more from here. Nifty has come down sharply but the levels of 21500-21400 can lend some support and keep intact our bullish view. Nikkei has risen towards its upper end of the range as expected. Need to see if a break happens on the upside or not. Shanghai has bounced back and if sustains, can rise further towards its immediate resistance.
Crude prices look mixed and can continue to trade sideways for a while. Gold and Silver can fall while below 2060 and 23.50 respectively. Copper has bounced back but could face rejections from 3.85-3.88. Natural Gas might break above 3.00 and target further upside.
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