The U.S. dollar index rose above 102.50 and is bullish to 104 and above. The Eurozone is once again approaching support around 1.09. We need to pay attention to holding 1.09 or falling further. USD/JPY and EUR/JPY are above 146 and 161.50, with considerable chances of a move towards 150-152 and 164 respectively over the next few sessions. AUD bulls are holding steady above 0.67 for now, but further gains above 0.68-0.6850 are needed to make the outlook bullish again. GBP would need to rise above 1.31 or fall below 1.30 for further direction. EUR/INR fell below 92.50-92, heading towards 91. USD/INR remains above 83.90/80, with considerable chances of an upward test of 84.10/12.
U.S. Treasury yields have risen and are currently at resistance levels. Subsequent gains from here are likely to extend. The expected reversal may occur thereafter. German yields continue to move higher, which is bullish. Yields are likely to rise further in the coming days. The 10-year GoI moved higher within the expected range. On the positive side, it is expected to break out of this range and eventually rise.
Strong third-quarter earnings from major banks lifted the Dow Jones Industrial Average soaring above 42,800. The German DAX index maintained bullish sentiment above the 19,150 support level and climbed sharply above the 19,300 level. In comparison, the Indian Nifty remains weak and lacks mobility. You need to pay attention to the price trend near 24800-25000 points. The Nikkei appears to be holding above 39,500 points. Meanwhile, the Shanghai Composite Index is well below its resistance level of 3,300 points and hovering around its support zone of 3,200-3,180 points.
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