Market Stability Continues as Major Pairs Trade Within Narrow Ranges
The global markets are experiencing a period of stability, according to recent analysis. The EUR/USD currency pair is expected to trade between 1.1700-1.1600, while other major pairs like USDJPY and EURJPY may slowly rise due to the BOJ's intervention last week. The Aussie dollar could reach 0.7250-0.73, and the Pound might fluctuate between 1.3475 and 1.3550.
The US Treasury Yields are sustaining higher levels, with a potential break above their resistance leading to further increases. German yields remain stable, but the outlook is still bullish for more growth in the near term. The Indian rupee may test 109 before reversing its trend, while USDINR needs to break below 94.45 to trigger a possible lower support at 94.
The Dow remains range-bound between 52,500-54,000, and the DAX has bounced back with potential gains towards 26,500. The Nifty is vulnerable below 24,000, while Nikkei has turned stronger above 66,000 amid easing US rate hike expectations.