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GILT TECHS

(M1) Key Support Zone Exposed

USDJPY TECHS

Fierce Bounce, But Needs to Stick

EURGBP TECHS

At Risk of Bearish Breakout

GBPUSD TECHS

Key Resistance Exposed

EURUSD TECHS

Remains Heavy

INDIA
INDIA: Among others, the INR has benefited from the weakness in the greenback
Tuesday and also plays catch-up after a market holiday Monday. USD/INR closed
just above last week's lows of 69.5013 Tuesday, with INR outperforming the
broader Asia FX space (KRW was the weakest). Today's trade cements USD/INR's
close below the 50-dma at 69.8589 after breaking above the mark last week.
-Markets continue to eye the poor performance in crude oil at the tail-end of
last week, but the boost for INR may be short-lived as energy prices recover
Monday and Tuesday so far. 
-Capital flow numbers remain critical for INR fluctuations, with numbers late
last week suggesting further foreign fund inflows into Indian equities and bond
markets. The NIFTY50 holds close to all time highs printed on Apr18 (closed
under 1% below Tuesday), but equities likely to be quiet for the rest of the
week on sporadic market holidays. USD/INR vols moderated further, holding the
recent pick-up on the 1-month measure as markets anticipate the election results
due on May 23rd.
-Indian markets are closed again Wednesday for May Day.