EUR/USD is trading at 1.05350, 0.06% up since previous day close. The stringent to curb rising inflation rate in U.S & other parts of the world dragged down the commodities prices; which is turn pushed up equities & currencies. Earlier, the hawkish Fed Powell’s speech which began from Wednesday led USD stronger & other currencies weaker. The Euro-zone issued weaker than expected PMI figures which failed to show any negative effect on the pair EUR/USD. The traders will be eying German IFO Business Climate data on Friday. As seen in the chart, the pair reversed upside after forming double bottom& is on the verge of crossing over short term MA (10) & MA (20). This indicates the chances of further buying if breach the level.

Natural Gas is trading at $6.281, 0.13% down since previous day close. The Natural gas prices slid down post release of Energy Information Administration (EIA) report which showed a rise in Natural gas inventory levels by 74B higher than expected build-up of 63B. This indicates more supplies against the steady demand. Also, the reducing inflationary pressure made energy products like Oil & natural gas less expensive. The change in climatic conditions in U.S & European regions further reduces the consumption demand of heating fuels like Natural gas. As seen in the chart, the commodity is trading near major support level & hence, a strong breakdown can be seen if breaches the same.

US30 is trading at 30759, 0.12% up since previous day close. The U.S markets surges up on Friday after optimism holds the ground over reducing inflationary pressure & lowering energy & commodity prices. Earlier, the US30 weakened moderately after U.S Fed Powell’s testifying speech showed the chances of interest rate hike by 75bps in the next meeting. On data front, the U.S revealed weaker than expected Manufacturing & Services PMI figures which failed to create any major impact on U.S markets. The result of New Home Sales data will be monitored today. As seen in the chart, the index is trading near major Fibo level of 61.8 which acts as a major support level & hence, reversal is expected in US30 if sustains the level with high trading volumes.