NZD/USD is trading at 0.70593, 0.14% up since Tuesday. The Kiwi turned out to be trading positive against the soft USD as global sentiments turned mixed over chances of monetary tightening in U.S. On data front, the New Zealand’s ANZ Commodity Prices grew by 6.1% from 3.3% in the previous month which cushioned the pair even more. Also, the GDT Price Index showed positive outcome of 0.3% against -0.8% previously. The better than expected Caixin Services PMI data remained supportive for NZD/USD; since New Zealand & China are the trading partners. Globally, the chances of passing U.S Biden’s new infrastructural bill & progressive distribution of Covid vaccine remain vital for currencies. Buying bias may be established in NZD/USD for the day.

Coffee traded at $125.93, 0.36% up since previous day close. The Coffee prices surges up after trading on lower note since last few sessions. The soft USD makes Brazilian Real (BRL) currency stronger & hence, this results into increase in the Coffee prices. The Brazilian farmer fetches more profits while exporting the Coffee beans to U.S. Currently, the mounting Covid cases across the globe may affect the Coffee demand & its prices. The change in climatic conditions in Brazil leads to frequent change in production & supplies, since the country is a leading producer of beans. As seen in the chart, the Coffee took a strong support of previous lows & hence, slight buying may be initiated for the day.

INDIA50 is trading at 14750, 0.08% down since previous day close. The Asian shares seems to be trading slightly weaker amid sell-off in other global peers as traders & investors expects the interest rate tightening against pledged earlier. Besides this, the country is facing its Covid-19 situation; with cases almost crossing 100,000 marks on a single day which further remains a suppressive factor for INDIA50. However, ongoing vaccination drive may remain a boosting part for markets. Earlier, the SGX Nifty shoots up as U.S issued robust NFP data showing a progress in employment sector. As seen in the chart, the index seems to be forming consolidation phase & is floating near MA (20) & MA (10). Wait & watch strategy may be adopted for the day in INDIA50.