Dollar Index May See Limited Gains Before Decline

The Dollar Index is expected to see limited gains before declining, which suggests that other major currencies against the dollar may not see significant strength. The Euro could potentially limit its dip to around 1.15, while EURJPY and USDJPY are projected to rise towards 180.50 and 157 respectively. Additionally, EURINR is seen as bullish above 110, with a target of 112.

The US Treasury yields remain high, and the German Yields continue to be bullish, indicating potential for further increases. The upcoming US Federal Reserve meeting outcome will be closely watched, with expectations of a 25 basis point interest rate hike. The economic projections released today are also expected to have an impact on markets.

In other asset classes, Brent and WTI crude oil prices continue to rise, with potential breaks above $110 and $105 respectively. Gold remains weak near $4300, while Silver is vulnerable to a decline towards $60.