GBP/USD is trading at 1.22029, 0.06% up since previous day close. The Sterling Pound seems to be trading on higher side in early trade on Friday against the steady USD after U.S issued lower rise in CPI rate in the previous session. Besides this, the higher chances of smaller interest rate hikes in the near term as hinted by Fed Minutes suppressed the USD & cushioned the major currencies. The robust result of BRC Retail Sales Monitor data pushed up the GBP/USD earlier in a week while the focus will be on U.K’s GDP & Industrial Production data today. As seen in the chart, the pair strongly took a support of Fibo level 23.6 & reversed up from MA (200). Also, an upside moving RSI line indicates a buying bias on lower levels with the target of previous highs of 1.23000 levels on short term basis

US30 is trading at 34255.3, 0.07% up since previous close. The U.S markets recovered on Friday post release of U.S CPI data which showed a progress in inflationary concern & may raise the chances of smaller interest rate hikes in the near future. The country’s Jobless Claims dropped to 205K lower than expectation 216K which further cushioned the index US30. Last week, the better than expected U.S Non-farm Payroll data & the positive chances of easing down restrictions in China on account of improving Covid-19 situation surged up the global markets. The result of Consumer Sentiment data will remain in focus for the day. As seen in the chart, the index seems to be hovering cluster resistance which indicates the chances of strong breakout on short term basis

Natural Gas is trading at $3.621, 0.03% down since previous close. The Natural Gas seems to be trading flat to lower side on Friday post issue of U.S Energy Information Administration (EIA) which showed a rise in Natural gas inventory level by 11B against the expected fall of 15B. This indicates more supplies against the steady demand. On contrary, the commodity widely soared down to one-year lows of $3.00 levels amid slowing consumption demand on account of inflationary pressure & Chinese Covid-19 lockdowns & restrictions. The change in weather conditions in U.S & European regions affects the commodity prices. Wait & watch strategy may be adopted for the day in Natural Gas.