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Amidst flat to weak trading witnessed across the asset classes the Dollar Index (DX) showed mild strength though it is may stabilize only on daily close above 82.70; the medium term is range bound between 81.30 and 84.50 ranges.
The benchmark equity index of the Dow Jones Industrials Average (DJIA) is trading at 15545 ranges; the major trend is still intact till DJIA manages to trade above 15300 ranges and may rise to 16100 ranges as it consistently closes above 15600 mark on daily basis else correction may be witnessed. Historic correlation between DX Vs DJIA suggests Dollar weakness till DX is not closing above 84.50 ranges on weekly basis though the historic correlation between DX Vs DJIA is getting less significant.
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