Morning briefing: Euro has risen slightly

Good Morning!

Dollar Index continues trade above 101 while Euro and EURJPY have risen slightly. USDJPY and USDCNY also continue to move up slowly targeting 136 and 6.95 in the near term. Pound can test resistance at 1.27 while Aussie can trade within 0.67-0.6830 for now and needs to break the upper limit to move up further. USDRUB is bearish while below 78 and can target 76/75 while USDINR can rise towards 82.25/30 within the 82.30-81.70/60 region. EURINR can attempt to test 90.50-91 while above support at 89.50."

The US Treasury yields remain stable ahead of the US CPI data release today. The inflation numbers will be key as it can decide whether the range will get broken or will continue to remain intact. The German yields have moved up further and can rise to test the upper end of their range. The 10Yr and 5Yr GoI can move up to test their resistances and then can resume their downtrend.

Dow Jones has dipped further and can come down more if it stays below 33800. DAX continues to hover near the top of the 15600-16000 range. Nikkei looks range bound within 29300-28850. Shanghai has fallen sharply failing to rise above the resistance at 3400. Nifty has declined but broader trend remains bullish.

Brent and WTI continues to consolidate below their resistance at $78 and $74 respectively. Gold and Silver looks bullish while above the support at 2020 and 25.50. Copper remains lower and can come down towards the lower end of the sideways range. Watch price action as the release of US CPI data today could bring in some volatility in the commodity market.

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