Morning briefing Euro is headed towards 1.13 or higher

Dollar Index seems to be falling again and can target 99 or lower while Euro is headed towards 1.13 or higher. Pound and Aussie seem to be rising again towards 1.32 and 0.69 while note that Aussie has crucial long term resistance near 0.69/0.70. EURJPY can target 156/157 soon while USDJPY is bearish below 139 towards 137/136. USDCNY can hold below 7.20 to test 7.15/10 while USDRUB seems to be inching higher while above 89 to target 91/92 again. EURINR can rise to 93 while USDINR can trade within 81.90-82.25/30 region.

The US Treasury yields have dipped again. More fall is likely if they failed to get a strong and sustained bounce. The German yields have also come down and can fall more in the coming days. The 10Yr and 5Yr GoI have fallen back failing to sustain the rise. They look vulnerable to fall more in the near-term.

Dow continues to rise and a sustained break above 34600, if seen, can take it further higher in the near term. DAX has to sustain above 15950 to keep alive the chances of our bullish view. Nifty remains bullish in the near term. Nikkei looks mixed. Shanghai has scope to fall towards 3150.

Brent and WTI can come down further to test their immediate support. Gold, Silver, and Copper have scope to rally on the upside while above the support at 1950/1940, 24.50, and 3.80/3.75 respectively.

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