Morning BriefingDollar Index (97.37) held previous day’s low of 96.80 to recover to a minor degree but the corrective bounce can reach 98.30 at best if it manages to break and sustain above the interim resistance of 97.45. Our downside target of 96.50-00 remains unchanged. Euro (1.1179) is seeing a normal correction while the larger uptrend remains intact so far. This correction can take it to 1.1100-1.1075 where fresh buying can be expected again. Repeat - if any profit booking is seen in Euro either near 1.1300-30 or near the higher long term resistance of 1.1400-50, then corresponding short covering can be expected in Dollar near 96.50 or 96.00. The German-US 10 Yr (-1.87%) and German-US 2Yr (-2.00%) have fallen sharply pulling down Euro also to levels below 1.12. The 10Yr yield spread has come off from resistance and while that holds, some downward correction is possible in the near term.
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Shyam Group of Companies
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May Monthly Forecast
Our May-17 Monthly forecast is now available. To order a PAID copy, please click here and take a trial of our service.
May Calendar Wallpaper
The US 10Yr T-Bond yields rose for 35 years from 2.03% in 1946 to 14.59% in 1981. The fall from there to the 2016 low of 1.50% also took 35 years. Could 2017 see the start of a long rise? You can download this chart as part of our May 2017 Wallpaper Calendar from here
Euro Longterm Forecast
Need Euro, Yen and Aussie forecasts for business costing and planning your hedges? You may also be interested in other long term forecasts