AUD/USD is trading at 0.69153, 0.13% down since previous day close. The flat to lower side trading can be seen in Aussie as reducing inflationary pressure makes the commodities & energy products less expensive; for Australia is one of the major commodity exporting countries. On data front, the country’s PMI figures showed mixed results wherein the Manufacturing PMI remained almost steady at 55.8 while Services PMI fell down to 52.6 from 53.2 in the previous month. The result of AIG Manufacturing Index will remain in focus for the day. As seen in the chart, the pair is trading near major support of previous lows; forming cluster support & hence, the cautious trading may be recommended for the day.

WTI Oil is trading at $107.61, 0.09% up since previous day close. The pullback rally can be seen in Oil prices on Monday after sliding down to $103 levels last week as inflationary pressure seems to be lowering down amid strong curtailing measures. Ongoing G7 meeting which may focus on lesser Russian Oil exports & discussion over US-Iran nuclear deal may remain bearish for Oil prices on short to medium term basis. The U.S is to issue its Energy Information Administration (EIA) report on Monday which will remain in concern for the oil prices. As seen in the chart, the Oil is trading near lower trend-line of channel pattern & hence, selling may be seen if breaches down.

INDIA50 is trading at 15916, 0.22% up since previous day close. The Asian shares moved on higher side on Monday amid a strong rally in global shares as inflationary pressure seems to be easing down & energy & commodity prices lowers down. Last week, the INDIA50 slid down as the FOMC Powell’s speech showed a likelihood of rate hike by 75bps in the next meeting. Also, the hawkish RBI stance over interest rate hike in the last meeting led selling pressure in INDI50 earlier. However, the effort towards improving economic conditions & industrial activities remains bullish factor for INDIA50. As seen in the chart, the index reversed upside after sustaining the key MA (100) & signifies further buying bias if continues to trade o higher side.