Commodities: Metals are choppy but still advancing very steadily. Copper has made fresh high indicating greater strength. Subject to base levels being protected, the advance can continue. Bullion trends are very mixed and clear directional trends are not expected just yet. Crude has risen but we maintain our view that the trend may not sustain.

Currencies: The USD/INR has turned choppy and is likely to stay so. The overall bias remains negative for now. The Euro bounced to 1.35 but has again become range bound. The USD/JPY is stable but may weaken below 82.00. The DXY can turn weak below 79.75 but is presently range bound.