EUR/USD is trading at 1.0860, 0.15% down since previous day close. The U.S. dollar is on track for a hefty weekly fall on renewed dovish hopes for the Federal Reserve, but this selling “looks exaggerated”, according to HSBC. EUR/USD continues to lose ground, trading around 1.0860 during the Asian hours on Friday. From a technical perspective on a daily chart analysis indicates a sideways trend for the pair as it continues to lie within the symmetrical triangle. On  Thursday this pair faced selling pressure from resistance level of 1.0895 after it spent more than a week in bullish zone so it  may try to retrace to next support zone of 1.0811.

GER30 is trading at 18,650, 0.19% down since previous day close. The DAX declined by 0.69% on Thursday (May 16). Partially reversing a 0.82% gain from Wednesday (May 15), the DAX ended the session at 18,704. On Thursday, ECB commentary garnered investor attention. Amidst rising bets on a June ECB rate cut, uncertainty about post-June policy goals lingered. ECB member Martins Kazaks fueled the uncertainty by tempering investor expectations of multiple 2024 ECB rate cuts. Kazaks reportedly warned the ECB is in no hurry to cut interest rates. On daily chart DAX30 closed in red after a week of positive rally. Can look for short term position here.

WTI is trading at 79.43, 0.69% up since previous day close. Western Texas Intermediate, the US crude oil benchmark, is trading around $79.43 on Thursday. The black gold edges higher amid the recent drop in US crude inventories and the possible interest rate cuts by the Federal Reserve. On Other side China manufacturing sector gained and is back on track which caused the demand of crude oil to increase, that lead to rise in crude oil price. On daily chart WTI can trade in green in coming days.