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For the 24 hours to 23:00 GMT, the USD declined 0.66% against the JPY and closed at 112.82.

In the Asian session, at GMT0400, the pair is trading at 112.72, with the USD trading 0.09% lower against the JPY from yesterday’s close.

Overnight data showed that Japan posted a trade deficit of ¥449.3 billion in October, higher than market consensus and compared to a trade surplus of ¥131.3 billion in the preceding month.

The pair is expected to find support at 112.40, and a fall through could take it to the next support level of 112.09. The pair is expected to find its first resistance at 113.24, and a rise through could take it to the next resistance level of 113.77.

In absence of key economic releases in Japan today, investor sentiment would be determined by global macroeconomic events.

The currency pair is trading below its 20 Hr and 50 Hr moving averages.

For the 24 hours to 23:00 GMT, the USD declined 0.70% against the CHF and closed at 0.9999 on Friday.

In the Asian session, at GMT0400, the pair is trading at 1.0001, with the USD trading slightly higher against the CHF from Friday’s close.

The pair is expected to find support at 0.9966, and a fall through could take it to the next support level of 0.9932. The pair is expected to find its first resistance at 1.0061, and a rise through could take it to the next resistance level of 1.0122.

Trading trend in the Swiss Franc today will be determined by Switzerland’s total sight deposits, due to be released in a while.

The currency pair is trading below its 20 Hr and 50 Hr moving averages.

For the 24 hours to 23:00 GMT, the USD declined 0.14% against the CAD and closed at 1.3158 on Friday.

Data indicated that, Canada's manufacturing shipments rebounded 0.2% on a monthly basis in September, driven by gains in the transportation equipment industry and compared to a revised drop of 0.5% in the previous month. Market participants had expected manufacturing shipments to advance by 0.1%.

In the Asian session, at GMT0400, the pair is trading at 1.3162, with the USD trading marginally higher against the CAD from Friday's close.

The pair is expected to find support at 1.3130, and a fall through could take it to the next support level of 1.3099. The pair is expected to find its first resistance at 1.3190, and a rise through could take it to the next resistance level of 1.3219.

Amid lack of economic releases in Canada today, traders would focus on global macroeconomic events for further direction.

The currency pair is showing convergence with its 20 Hr moving average and trading below its 50 Hr moving average.

For the 24 hours to 23:00 GMT, the AUD rose 0.71% against the USD and closed at 0.7329 on Friday.

LME Copper prices declined 0.1% or $7.0/MT to $6181.0/MT. Aluminium prices declined 0.2% or $3.0/MT to $1914.0/MT.

In the Asian session, at GMT0400, the pair is trading at 0.7313, with the AUD trading 0.22% lower against the USD from Friday's close.

The pair is expected to find support at 0.7264, and a fall through could take it to the next support level of 0.7214. The pair is expected to find its first resistance at 0.7349, and a rise through could take it to the next resistance level of 0.7384.

Looking ahead investors would focus on the Reserve Bank of Australia's (RBA) November meeting minutes, slated to release overnight.

The currency pair is trading above its 20 Hr and 50 Hr moving averages.

For the 24 hours to 23:00 GMT, Gold rose 0.69% against the USD and closed at USD1222.20 per ounce on Friday, amid weakness in the US dollar.

In the Asian session, at GMT0400, the pair is trading at 1221.10, with gold trading 0.09% lower against the USD from Friday’s close.

The pair is expected to find support at 1215.00, and a fall through could take it to the next support level of 1208.90. The pair is expected to find its first resistance at 1226.60, and a rise through could take it to the next resistance level of 1232.10.

The yellow metal is showing convergence with its 20 Hr moving average and trading above its 50 Hr moving average.

For the 24 hours to 23:00 GMT, Silver rose 0.84% against the USD and closed at USD14.38 per ounce on Friday, tracking gains in gold prices.

In the Asian session, at GMT0400, the pair is trading at 14.365, with silver trading 0.10% lower against the USD from Friday’s close.

The pair is expected to find support at 14.25, and a fall through could take it to the next support level of 14.14. The pair is expected to find its first resistance at 14.44, and a rise through could take it to the next resistance level of 14.51.

The white metal is trading above its 20 Hr and 50 Hr moving averages.

For the 24 hours to 23:00 GMT, Crude Oil rose 0.30% against the USD and closed at USD56.73 per barrel on Friday.

Meanwhile, fresh figures from Baker Hughes disclosed that the number of active oil rigs rose by 2 to 888, for the fifth time in six weeks, keeping the rig count at its highest since 2015 in the week ended 10 November.

In the Asian session, at GMT0400, the pair is trading at 57.15, with oil trading 0.74% higher against the USD from Friday’s close, amid hopes that the OPEC might cut production..

The pair is expected to find support at 56.04, and a fall through could take it to the next support level of 54.93. The pair is expected to find its first resistance at 58.11, and a rise through could take it to the next resistance level of 59.07.

Crude oil is showing convergence with its 20 Hr moving average and trading above its 50 Hr moving average.

Stocks

Broad range of 27000- 24500 is holding for Dow (25413.22, +0.49%) when seen on the weekly chart. While above 25000, a rise towards 25750-26000 looks likely.

Dax (11341, -0.11%) has not been able to break above 11500 and looks bearish just now. A fall towards 11100-11000 is possible while 11500 holds strong.

The Nikkei (21755.46, +0.35%) is trading in a small sideways range for the past 3-sessions. Resistance at 22000 is important and only a break on the upside would indicate long term bullishness. While below 22000, a fall towards 21200-21000 is possible.

Shanghai (2675.52, -0.13%) seems to be holding below the resistance at 2700. Unless a break above 2700 is not seen, we could expect a fall towards 2600 or lower again in the coming sessions. Watch price action near 2700.

The Nifty (10682.20, +0.62%) is trying to break above the 21-day MA just at current levels on the daily line charts. A rise towards 10800-10900 is on the cards for the near term if the breaks above 10700.

36000 is an important horizontal resistance which is likely to produce a rejection for Sensex (35457.16, +0.56%). Near term could see a rise to 36000.

COMMODITIES

Brent (67.44) and WTI (57.42) are trying to move up eventually. Brent could gradually rise towards 70 in the near term. WTI on the other hand has resistance near 59 from where a corrective dip is possible.

Gold (1222.30) has dipped a bit. As mentioned last week, there is immediate resistance near 1230 on the daily candles which is likely to hold and push back the prices towards 1210 once again this week. Gold looks bearish for the near term.

Copper (2.7790) has also slightly come off from resistance near 2.80 as seen on the daily candles. While that holds, we could see a fall towards 2.70-2.65 again in the near term. Else a break above 2.80 if seen could take it higher towards upper resistance at 2.85.

FOREX

Euro and Pound could move towards crucial resistances near 1.155 and 1.30 while the Dollar Index moves towards support near 96.25-00. USDINR has crucial support at 71.70 which should hold.

Dollar Index (96.45): There is crucial support at 96.00-25 for the Dollar Index. While above this support, upside chances still remain for the near term. Only a decisive break below 96 might negate further upside.

Euro (1.1409) : Crucial resistance is seen near 1.145-1.150 on daily and 3 day line charts and slightly higher near 1.155 on weekly candles. Euro could hence again come off from the 1.145-1.155 zone in the near term. If it crosses above 1.155, the downside could then possibly be negated.

USD/JPY (112.65) has some more room to fall towards 112 on daily candles. The 21 weeks MA at 111.8 could also be a crucial support level. Current preference is for 112 to be tested in the near term. Break below 112 would be quite bearish.

Aussie (0.7316) : Last week's close above the 21 weeks MA ( 0.7254) makes Aussie look potentially bullish in the next couple of weeks. However, it has come off slightly from resistance near 0.733 on 3 day candles which could produce an interim dip during this week.

Pound (1.2834) might spend another week ranging between 1.30 and 1.27. Only a break above 1.30 or a break below 1.27 would give any hint of further direction for the next 3-4 weeks. Preference looking at the monthly chart is slightly tilted to the downside.

EUR/JPY (128.53) looks like it could rise towards resistance on daily candles near 129.25 and then come off from there back towards 128 in the current week.

Dollar Rupee (71.915): 71.70 is a weekly trend support and while that holds, we may look for a bounce back towards 72.00 and higher in this week.

INTEREST RATES

Crucial to watch the 3% level on the US 10 year yield now.

US 10 Year yield (3.06%) : As expected, the US 10 year has dipped towards 3.05%. If it breaks below 3.05%, there is stronger and more crucial support near 3.0% which should hold in the near term.

German 10 year yield (0.37%) : There is still some room for further downmove towards support near 0.30% in the near term, before an eventual rise from there back towards 0.5%.

The German-US 10 Year yield spread (-2.69%) is at crucial resistance near -2.70% from where it should again dip. Alternatively, a break above this resistance could be bullish.

ECB Governor Council member Francois Villeroy de Galhau said today that net asset purchase will "very probably end in December" as planned. However, he emphasized that "the end of our net asset purchases will not, however, mean the end of our monetary stimulus, far from it."

The pace of normalization would depend on incoming economic data. And three tools are at ECB's disposal, including reinvestment of assets, interest rate and refinancing operations. Villeroy would prefer slowing the rate of reinvestment only after the first interest rate hike, which wouldn't happen at least through the summer of 2019.

He also added that "we are not obliged to rush, as early as at our December meeting, to set out the precise length of our reinvestment period."

BoJ Governor Haruhiko Kuroda noted in a speech that amid a persistent low interest rate environment, "possible changes in the risk appetite and risk profile of banks ... is an issue" that BOJ is "highly attentive to". And, in the short term, "as downward pressure on banks' profits continues, we need to be mindful of the possible consequences of banks' engagement in excessive risk taking."

For banks with "abundant capital bases", risk taking "provides financial support to firms' production activities, thereby contributing to economic expansion". However, without appropriate risk management measures, continued decline in profits would lead to to "insufficient capital bases", and sharply higher credit costs. The stability of the financial system "could be threatened" in the event of a "large exogenous shock". Based on October's Financial System Report, the system has been maintaining stability on the whole.

On monetary, Kuroda repeated the same rhetoric that BoJ will continue with the current loose monetary policy. And, he's confident that BoJ inflation will eventually move back to target.