Kshitij Consultancy Services Team
Kshitij Consultancy Services
Good Morning!
The Dollar Index is headed to 105.50/106 while the Euro maintains below 1.08 for now. USDJPY and EURJPY can rise towards 156/157 and 168 respectively while USDCNY has plunged to 7.2073 before bouncing back to current levels of 7.2174. The downside of 7.20/18 would be negated on a sharp rise back to 7.23/25 region. Aussie and Pound can trade between 0.67-0.65 and 1.25-1.2650 for a few days. EURINR could dip to 89.50/20 while below 90.10/15. USDINR can trade within 83.55/57-83.40/30 for a few days.
The US Treasury and the German yields continue to move down in line with our expectation. Both the Treasury and the German yields have room to fall further in the near-term and then can possibly reverse higher again. The 10Yr and 5Yr GoI have declined sharply on Monday. They are poised at their crucial support. Failure to bounce back immediately can see an extended fall from here and then can see a reversal.
Decent rise is seen in most of the equites expect Nifty. Dow Jones can rise towards 39200-39500. Thereafter we need to see if any fall back happens or not. Dax is moving up towards the upper band of the range. Need to see if it breaks on the upside and extend the rise or not. Nifty looks mixed for the near term. Nikkei has risen towards its resistance which if holds, can lead to a fall in the near term. Shanghai can rise towards its key resistance before a corrective fall can happen.
Brent and WTI can rise while above the support at $83-82 and $78-77.50 respectively. Gold can test 2350-2400 before a fall back can be seen. Silver and Copper has risen above their resistance at 27.50 and 4.60 respectively and may extend the rise further while the break sustains. Natural Gas needs to rise past 2.3 for increased bullishness.
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The above views are based on the latest available information. Though the information sources are believed to be reliable, the information is not guaranteed for accuracy. While the views are proffered with the best of intentions, neither the author, nor the firm are liable for any losses that may occur as a result of any action based on the above. World financial markets, and especially the Foreign Exchange markets, are inherently risky and it is assumed that those who trade these markets are fully aware of the risk of real loss involved.
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