AUD/USD is trading at 0.71625, 0.23% down since previous day close. The worsening situation between West & Russia over invasion of Ukraine led antipodean & other currencies weaker; since this may disrupt supplies & shipments of global commodities. The strong USD after FOMC Powell hinted for aggressive rate hike in the forthcoming meetings to curtail inflationary concern resulted into further selling in AUD/USD. On data front, the country’s CPI rate massively grew by 2.1% from 1.3% in the previous month which signals for rising inflationary situation in an economy. As seen in the chart, the pair corrected till MA (200) which acts as a major support & hence, the cautious trading may be recommended for the day.

WTI Oil is trading at $101.92, 0.26% up since previous day close. The Oil prices moved on higher side on Tuesday after Russia warned Europe to halt its oil & gas supplies to Poland & Bulgaria amid invasion of Ukraine. The recent API estimates showed a rise in Oil stocks level by 4.78mbpd against the expected rise of 2.16 mbpd. Besides this, the mounting Covid-19 cases in China affect the consumption demand of Oil & its prices; since China is a top Oil consumer which dragged down the prices earlier in a week. The result of EIA report will be closely monitored for the day. As seen in the chart, the oil is hovering near MA (100) which acts as a major support level & hence, cautious trading may be recommended for the day.

INDIA50 is trading at 17063, 0.02% up since previous day close. The mixed trading can be seen in SGX Nifty following the momentum in other global peers. On Tuesday, the Russia warned to cut gas supplies to Poland & Bulgaria which grew conflicts between Europe & Russia. This led to heavy selling pressure in overall equity markets. Last week, the Fed Chair Powell hinted more aggressive stance to control inflationary concern which widely dragged down the markets. Also, the worsening Covid-19 situation in China & suspicious outcome over Russia & Ukraine peace talks remains vital for equity markets. As seen in the chart, the index retraced down till Fibo level 50.0 which shows the chances of breakdown if breached or a reversal if sustained.