EUR/USD is trading at 1.08174, 0.07% up since previous day close. The profit-booking can be seen in EURO after sliding down to lower levels in the previous session. The steady USD & stable bond yields on hawkish FOMC stance over rate hike in the next meeting remains slightly suppressive for counterpart currencies. Last week, the ECB left interest rate steady as expected but hinted for monetary tightening in future if required. The result of Euro-zone Trade Balance & Industrial Production will remain in focus for the day. As seen in the chart, the pair is trading at previous lows which acts as a major support level & hence, make or break situation can be seen further.

UK100 is trading at 7579, 0.21% up since previous day close. An upside in global markets led buying pressure in UK100 as well amid strong global cues. The investors are looking forward to the corporate earnings result; which might push up the indices in near term. Earlier, the sell-off had been noticed in indices on account of rising concern over FOMC hawkish stance & uncertainty over Russia-Ukraine peace talks. The BoE lifted up interest rate by 50bps which cushioned the Sterling & UK100 to some extent. The market will be looking forward to BoE Governor’s speech on Thursday. As seen in the chart, although the UK100 is contracting down yet it is still hovering in bullish channel pattern & hence, slight buying bias may be seen for the day.

Copper is trading at $10324, 0.04% down since previous day close. The mixed trading can be seen in commodities since last few sessions amid rising inflationary concern & its curtailing measures. The recovery in equity markets & global sentiments led slight selling pressure in precious & base metals. Also, the rising number of Covid-19 cases & lockdown in few Chinese cities affects the consumption demand of industrial metals like Copper; for China is a major consumer of metals. Earlier, the commodities resumes its upside as chances of progressive peace talks between Russia & Ukraine eases down; which could affect the supplies & exports of commodities. Sideways trading may be recommended for the day in Copper.