EUR/USD is trading at 1.07479, 0.01% up since previous day close. The range bound trading can be seen in EUR/USD ahead of the result of U.S inflation data release due today. Optimism hovers over upcoming ECB meet with a focus on monetary outlook. The Euro-zone ZEW Economic Sentiment fell to 8.9 from 5.5 in the previous month while traders will be eying the outcome of Industrial Production data due to be issued today. Uncertain Fed monetary outlook in its forthcoming meeting & ongoing U.S-China trade woes remains vital for currencies. Slight buying pressure may be established in EUR/USD on an intraday basis since the pair seems to be sustaining the support level of previous lows.

US100 is trading at 15308.3, 0.02% up since previous close. The mixed trading can be seen in US100 ahead of the result of U.S inflation rate data which is to be issued today. This may contribute in Fed’s monetary decision making in its upcoming meeting; wherein the traders expect a no-change in policy. The U.S NFIB Small Business Index fell to 91.3 from 91.9 in the previous month while the result of Federal Budget Balance will remain in focus for the day. Last week, the tension between U.S & China escalated after the former imposes few export curbs on Chinese tech companies in retaliation to Chinese actions which subdued the equity markets. As seen in the chart, the index US100 is hovering near MA (10) & MA (20) & hence, the cautious trading may be recommended further.

WTI Oil is trading at $89.09, 0.14% up since previous day close. The Oil prices rallied on Tuesday after OPEC report showed the chances of more supply cuts in near future from OPEC+ countries. The U.S American Petroleum Institute (API) report showed a mild build-up in Oil stocks level by 1.174 mbpd against the expected fall of 2.00 mbpd. This failed to lower down the prices. The focus will be on the result of U.S Energy Information Administration (EIA) report which is to be issued today. Globally, the outcome of U.S CPI data release event will remain in focus for the day. As seen in the chart, the Oil firmly crossed over the short-term Moving Averages & hence, buying pressure may be established for the day in WTI Oil.