Dollar Index has dipped below 106 but has to face 105.50 yet from where a bounce could still be possible. Euro is above 1.06 and needs to sustain to slowly move higher towards 1.0650+. Aussie and Pound may test resistance near 0.6450 and 1.23-1.2350 respectively. It would be important to see if the levels would hold or break. EURJPY is again rising back towards 158 and could fall to 157-156 if a rejection is seen.
USDJPY has support at 148 which if holds can take it towards 150. USDRUB may trade within 95-102.50. EURINR could dip towards 88 or lower while below 88.50. USDINR needs to break higher or decline from 83.30 to indicate further movement from here.
The US Treasury and the German yields remain lower as the sentiment remains risk-averse on the back of the geopolitical tensions. A break below the immediate resistances can drag the Treasury yields lower.
The US inflation data release tomorrow will be important to watch. The German yields can also fall more from here before reversing higher again. The 10Yr and 5Yr GoI have come down. The resistances are holding well as expected and the yields have room to fall more from here.
Dow Jones and DAX needs to rise past 33900 and 15450 to avoid a fall back. Nifty has risen well above 19600 but needs a further break above 19800 to strengthen the momentum. Nikkei remain bullish. Shanghai looks mixed.
Crude prices looks range bound within $89-86 (Brent) and $88-84 (WTI) respectively. Gold and Silver lacks strength but bias remains bullish to see a test of their immediate resistance. Copper and Natural gas may remain range bound within 3.70-3.55 and 3.3-3.5 respectively for some time.
