Forex pairs seem to be stable just now without much volatility. Dollar Index and Euro continue to trade within 105-106.50 and 1.06-1.05 while USDJPY, Aussie and Pound could attempt to rise towards the upper end of the mentioned ranges of 148-150, 0.63-0.64 and 1.2250-1.21 before falling from there. EURJPY is bearish while below 158. USDCNY continues to slowly rise towards 7.35. USDRUB may trade within 96-101/102.50. EURINR and USDINR may continue trade within 88-87 and 83.10/15-83.30. We warn caution on the USDINR which could be preparing for a sharp rise above 83.30 soon.
The US Treasury yields have risen and are likely to move further higher from here. The German yields have also moved up. But resistances are coming up for them which have to be broken to move higher and avoid a fall back. The 10Yr and 5Yr GoI are inching up. The supports are holding well, and they can move up further from here.
Dow Jones has risen above 33900 and can now move further up to 34300-34400. DAX has risen back but needs a follow through rise to move up towards 15500. Nifty is bullish while above the support at 19600. Nikkei has bounced back from the support at 31500. Outlook is bullish while above 31500. Shanghai remains subdued but the downside seems limited to 3050.
Crude prices have fallen back failing to break above their immediate resistance. Gold, Silver and Copper outlook is bearish for the near term. Natural gas continues to dip but downside could be limited to 3.0.
