USD/JPY is trading at 150.547, 0.06% up since previous day close. The YEN strengthened against the soft USD & declining U.S bond yields after U.S CPI rate eased down; which lowers down the chances of further rate hike by Fed. Also, the China injected $82.7 billion liquidity into financial system in order to cushion the economic conditions; which turned out to be supportive for YEN since China & Japan are trading partners. Ongoing geopolitical tension between Hamas & Israel remains vital for safe-haven currencies. As seen in the chart, the retraced down till short-term Moving Averages of period 10 & 20 which indicates the chances of a breakdown if breached otherwise a reversal may be expected if sustained. Slight buying may be recommended for the day in USD/JPY.

CHNIND is trading at 6138.3, 0.02% up since previous close. The Chinese shares surge up after Chinese PBoC announced a stimulus plan worth $82.7 billion in order to boost economic conditions. Also, the China issued stronger key economic data wherein the Industrial Production grew by 4.6% from 4.5% & the Retail Sales increased by 7.6% from 5.5% in the previous month. Globally, the easing down of U.S CPI rate remained supportive for index CHNIND. Uncertain FOMC outlook & ongoing Israel -Hamas tension will remain significant for global markets. As seen in the chart, the index moved up above the short-term Moving Averages of period 10 & 20 & hence, buying pressure can be continued to be seen if sustained above the key levels.

WTI Oil is trading at $78.39, 0.06% up since previous day close. The Oil prices inches up in early trade on Wednesday amid soft USD as U.S issued weaker CPI data; indicating the chance of slow rate hike stance in near future. An announcement of Chinese stimulus aid worth $82.7 billion in order to support the financial system further pushed up the Oil prices since China is a major consumer of Oil. The Saudi Arabia & Russia’s oil output cut plan & escalating tension between Hamas & Israel may remain vital for Oil prices. The U.S is to issued EIA report today which will be closely monitored. Slight buying bias may be initiated for the day in WTI Oil as the commodity is on the verge of crossing over MA (200).