GBP/USD is trading at 1.37479, 0.01% up since Friday. The steady USD ahead of FOMC meeting turned positive for other global currencies. Last week, the Pound depreciated massively after U.Ks showed worst effect of rising number of Delta variant Covid-19 cases which hamper its economic growth. Also, the weaker than expected PMI figures soared down the GBP/USD slightly. Globally, the growing optimism over global growth remained supportive for major currencies. As seen in the chart, the pair formed double bottom & rallied back to MA (10). This indicates the chances of breakout if breached the levels; testing the next level of 1.38000 otherwise a reversal can be expected.

INDIA50 is trading at 15857, 0.26% up since previous day close. Strong buying can be seen in SGX Nifty as the index in on the verge of entering a new territory range if breached the current levels. The robust U.S & Indian corporate earnings & the progressive trails against Delta variant virus remain supportive for INDIA50. Moreover, a progress in Covid-19 vaccination drive across the country makes the INDIA50 more attractive in long term. The volatile Oil prices strengthen the INR; which further pushes up the INDIA50. Upcoming event of FOMC meet in the next week will be closely monitored. As seen in the chart, the strong reversal from major support level of multiple previous lows makes indicates a buying bias with a target of 15950 levels on short term basis.

Natural gas is trading at $4.011, 0.42% up since previous close. A sharp rally can be seen in Natural gas prices crossing multi year high of $4.000 levels amid a considerable increase in consumption demand against the steady supplies. Last week, the Energy Information Administration (EIA) report showed a build-up in Natural gas storage levels by 49B; still lower than preceding reading of 55B which pushed up the prices. Also, the change in climatic conditions in U.S & European regions remains a supportive factor for energy prices. As seen in the chart, the commodity widely crossed last resistance level of ‘e’, indicating buying bias on an intraday basis with a next target of $4.050-$4.100 levels.