NZD/USD is trading at 0.67767, 0.06% up since previous day close. The Kiwi slightly depreciated on Thursday post release of CPI rate which grew by 1.8% versus 1.4% in the previous reading. Also, the GDT Price Index fell by 3.6% weaker than previous fall of 1.0%. Besides this, the strong USD amid hawkish Fed stance in forthcoming meetings led weakness in other currencies. Last week, the pair tested recent highs of 0.69000 levels after RBNZ lifted up interest rate by 50bps as expected in order to curtail inflation rate. As seen in the chart, although the pair NZD/USD is trading in a bearish channel pattern; yet it is hovering near MA (10) & MA (20) which signals for make or break situation & hence, cautious trading may be recommended for the day.

WTI Oil is trading at $103.00, 0.02% up since previous day close. The Oil prices moved up on Thursday after Energy Information administration (EIA) showed a drop-down in Oil inventory level by 8.0 mbpd against the expected rise of 3.0 mbpd. However, the prices retreated in previous session after rallying to $108 levels as traders started squaring up long positions. The recovery in equities amid ongoing corporate earnings season & worsening Coivd-19 situation in China reduces the consumption demand of Oil & its prices. As seen in the chart, the oil retraced down till MA (10) & MA (20) which acts as a major support level & hence, cautious trading may be recommended for the day.

AUS200 is trading at 7563, 0.08% up since previous day close. The Asian shares seem to be trading on higher side after U.S bond yields corrected on Wednesday amid global cues. The robust quarter earnings of few of the U.S companies created positive sentiments amongst traders. However, the hawkish FOMC stance in upcoming meetings, worsening Covid-19 situation in China & suspicious outcome over Russia & Ukraine peace talks remains vital for equity markets. The result PMI data will be closely monitored on Friday. As seen in the chart, the previous high of 7550 levels now acts as a support level for index AUS200 which clearly indicates that a strong breakout can be expected if breached or a reversal can be seen if sustained & failed to cross.