GBP/USD is trading at 1.16723, 0.06% up since previous day close. The soft USD amid easing down of inflation rate in U.S which may reduce the aggressive rate hike stance in the next Fed meet made other basket of currencies to trade on higher levels on Friday. On data front, the U.K’s RICS House Price Balance fell by 2% weaker than expectation while the market will be looking forward to country’s GDP & Manufacturing Production data release today. Earlier, the political tensions in an economy led the Sterling Pound to trade at record low levels. As seen in the chart, the pair USD/CHF crossed over Fibo level 23.6 & is on the verge of crossing MA (10) & MA (20). This indicates further buying bias in GBP/USD.

Silver is trading at $21.611, 0.18% up since previous close. The precious metals showed a bullish zone against the softer USD as chances of aggressive rate hike stance by 75bps may ease down post release of better than expected U.S CPI data on Thursday. Besides this, the better than expected result of China inflation data & easing down of Covid-19 restrictions further pushed up the Silver prices since China is a major consumer of metals. The traders will be eying the result of U.S Consumer Sentiment data today. As seen in the chart, the Silver crossed over the long term Moving Average of 200 which indicates the chances of buying momentum on daily basis in the Silver.

US30 is trading at 33744.3, 0.31% up since previous close. A heavy buying pressure can be noticed in U.S markets after the country issued CPI data wherein the rate eased down by 0.4% lower than expectation of 0.6%. This reduces the chances of aggressive rate hike by 75bps in the next FOMC meeting which is to be held in the month of December. Last week, the U.S Non-farm Payroll data showed a rise in number of employed people by 261K against expectation of 197K. This boosted up the market sentiments. The result of U.S Consumer Sentiment data will be closely monitored for the day. As seen in the chart, the index reversed up from MA (200) & may cross over the MA (100) as well. Strong breakout can be expected if breached further for the day.