USD/JPY is trading at 148.999, 0.13% up since previous day close. The slight buying momentum can be seen in YEN against the steady USD as traders waits for key economic data release from U.S & China this week. Last week, the currencies turned out to be trading much stronger amid uncertain Fed monetary outlook & Chinese PBoC’s move of injecting liquidity into the financial system. On data front, the Japan’s SPPI rate grew by 2.3% from 2.0% in the previous month which cushioned the pair USD/JPY. The result of Prelim Industrial Production & Retail Sales data remains in focus for the day. As seen in the chart, the pair crossed down the MA (10) & MA (20) which indicates further buying momentum in YEN against the USD on daily basis.

CHNIND is trading at        5956, 0.21% down since previous day close. The Chinese shares soared down ahead of the result of key economic data & PMI figures which are to be issued later in this week. Last week, the indices turned positive after Chinese PBoC left Prime Loan Rate steady & announced a cash injection into the financial system in order to boost the economic conditions. On global front, uncertain future Fed’s monetary outlook & ongoing Israel-Hamas geopolitical conflict remains vital for equity markets. Also, the result of U.S GDP rate & BoE meet will remain in focus. As seen in the chart, an index crossed down the Moving Averages of period 10 & 20 & hence, further downside may be expected. Slight selling bias may be recommended in CHNIND on an intraday basis.

WTI Oil is trading at $74.78, 0.14% down since previous day close. The weakness can be seen in Oil prices ahead of the outcome of OPEC+ meeting which is to be held on November 30^th; delayed from 26^th November at Vienna with a focus on changes in Oil output0cut levels. Last week, the U.S Energy Information Administration (EIA) report showed a build-up in Oil inventory level by 8.7 mbpd higher than expected rise of 0.9 mbpd. This further weigh down the Oil prices. Escalating tension between Hamas & Israel & uncertain Fed monetary outlook may remain vital for Oil prices. As seen in the chart, the Oil is trading below the MA (10) & MA (20) which signals for further downside in Oil prices.