Morning Briefing: Dollar index and euro may trade within 109-110.30 and 0.9940-1.006 respectively

Dollar index and Euro may trade within 109-110.30 and 0.9940-1.006 respectively while EURJPY can trade below 145 to head towards 143. USDJPY is holding below 143.80 and can fall towards 142. USDCNY and USDRUB can remain in a range of 7.00-7.0250 and 62-59.20 respectively. Pound and Aussie can be bullish while above crucial supports of 1.14/1.1350 and 0.67-0.6670 respectively. USDINR can fall to 79.55/40 while below 79.80 today. EURINR can rise towards 81.50

The US Treasury yields are moving up ahead of the US Federal Reserve meeting outcome tomorrow. Key resistances are ahead, and the Fed meeting outcome would decide whether the yields can break above them or not. The German yields have risen across tenors and have come closer to their crucial resistances. The price action in the coming sessions will need a close watch to see if a reversal is happening or not. The 10Yr and 5Yr GoI sustain higher and are likely to move up from here. Supports can limit the downside for them.

Dow and DAX have rebounded from 30500 and 12600 levels respectively. Nikkei and Shanghai have bounced back from the support at 27500 and 3100 respectively. Nifty has risen well above the support at 17400 and while above it the index can move up further on the upside.

Brent and WTI may remain in a range of 87.5-95 and 80-90 respectively for some time. Gold looks vulnerable while below the resistance at 1700-1725. Silver could remain in a range while below the resistance at 20. Copper needs a strong rise past 3.6-3.65 to negate a possible fall on the downside.

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