Dollar Range-Bound, Euro Aiming for 1.10, Equities and Commodities Await Developments

US Dollar (USD):

The US dollar is anticipated to trade in the range of 102-103. The Euro may find support above 1.0870 and target 1.10. Meanwhile, EUR/JPY could be constrained around 159, potentially retracing to 157. USD/JPY is currently below 146 and might dip towards 144. USD/CNY is expected to maintain an upward trajectory, surpassing 7.16 and heading towards 7.20/22. The Australian dollar is likely to fluctuate within 0.66-0.6650, while the pound may continue to trade between 1.26-1.28. USD/RUB and EUR/INR are exhibiting bearish trends, and USD/INR may trend towards 83.00 before a potential recovery.

Bond Yields:

US and German bond yields are on the rise, with expectations for corrective gains before resuming broader losses. The 10-year German Bund yield is approaching resistance levels and is anticipated to resume its decline. The 5-year yield is ascending within a range and may eventually break below.

Equity Markets:

The Dow faces potential downside risks, with a possibility of a decline to 37,000. The German DAX index is at risk of falling below 16,500 points and reaching 16,000 points. The Nifty index has room for an upward move towards resistance above 21,500 points. The Shanghai Composite Index is expected to fall towards its support level before a potential recovery.

Commodity Markets:

Oil prices are expected to move towards the upper limit of their range. Gold and silver experienced fluctuations, and the strong US non-farm payrolls report may keep them range-bound for the time being. Copper prices could fall towards key short-term support levels before a recovery. Natural gas prices are likely to dip below the resistance at 3.00.

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