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Currencies & Equities Outshines Amid Global Cues, Chances of Tapering Increases & Positive Chinese Inflation Figures

By Research Team Thursday, Oct 14, 2021
AUD/USD

    • 10.04am ISTW1
    • High0.73945
    • Low0.73718
    • Close0.7385

AUD/USD is trading at 0.73731, 0.08% up since Wednesday. The Aussie turned positive after the country showed mixed labor data. The number of employed people fell by 138K against the expected fall of 108K whereas the Unemployment Rate dropped to 4.6% against estimation 4.8%. Also, the steady USD amid higher chances of U.S stimulus tapering beginning from next month cushioned the other counterparts to some extent. Globally, the inflation worries loom on an account of surging Oil & gas prices which remains vital for AUD/USD. As seen in the weekly chart, the pair seems to be taking a strong support of long term MA (100) & MA (200) & hence, slight buying may be initiated on short to medium term basis.

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Daily Outlook

AUD/USD

Intra Day
Near Day

Technical Levels

R3 0.74784
R2 0.74199
R1 0.73995
Turnaround 0.73614
S1 0.73410
S2 0.73029
S3 0.72444
By Research Team Thursday, Oct 14, 2021
WTI OIL

    • 10.45am ISTD1
    • High80.24
    • Low79.77
    • Close80.03

WTI Oil is trading at $80.07, 0.07% up since previous day close. The Oil prices slightly weakened on Thursday post release of American Petroleum Institute (API) report which showed a rise in Oil stocks    level by 5.23 mbpd against the expected build-up of 0.140 mbpd. Earlier in a week, the prices rallied to multi-year highs of $81 levels against the rising consumption demand on global level. Besides this, few companies planned to shift their production process from gas to Oil; which may raise the demand against the OPEC+ steady output. The market will be looking forward to the result of U.S EIA report today. Buying on lower levels may be recommended for the day in WTI Oil.

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Daily Outlook

WTI Oil

Intra Day
Near Day

Technical Levels

R3 83.60000
R2 81.97000
R1 81.28000
Turnaround 80.34000
S1 79.65000
S2 78.71000
S3 77.08000
By Research Team Thursday, Oct 14, 2021
GER30

    • 10.25am ISTD1
    • High15301
    • Low15279
    • Close15285

GER30 is trading at 15283, 0.27% up since previous day close. The European shares surges up following the other global shares as corporate quarter earnings show better results than expected. Also, upbeat Chinese & U.S inflation data further cushioned the indices. This overshadows the negative effect of FOMC Minutes’ statement of chances of stimulus tapering down from the next month. Last week, the GER30 softened below 15000 levels amid rising inflation concerns & mounting energy prices. The German ZEW Economic Sentiment fell to 22.3 from 26.5 in the previous month. As seen in the chart, the index reversed up from MA (100) & is currently hovering within short term Moving Averages. This signals a buying momentum on short term basis.

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Daily Outlook

GER30

Intra Day
Near Day

Technical Levels

R3 15600.00000
R2 15406.00000
R1 15332.00000
Turnaround 15212.00000
S1 15138.00000
S2 15018.00000
S3 14824.00000
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