NZD/USD is trading at 0.63127, 0.21% up since previous day close. The Kiwi appreciated in early trade on Friday against the soft USD over weaker than expected PPI & Jobless Claims data released in the previous session. In New Zealand, the Business NZ Manufacturing Index fell to 48.1 from 51.7 as per prior reading while the Visitor Arrivals grew by 0.6% against -26.3% previously. Last week, the RBNZ hiked an interest rate by 50bps as expected which contributed bullishness in NZD/USD. The steady USD on account of mixed chances of higher rate hikes in forthcoming Fed’s meeting will remain significant for currencies. As seen in chart, the pair is trading near MA (100) & a breakout is expected if breached the same. Buying on lower side may be recommended for the day.

GER30 is trading at 15912, 0.12% up since previous day close. The European shares saw a strong upside as global sentiments improved over an ongoing corporate earnings season. The German Prelim Final CPI remained steady at 0.8% same as previous figure which slightly pushed up the index GER30. The focus will be German WPI data which is to be released today. On Wednesday, the U.S issued a cooling down inflation rate data which turned up positive for global markets. Adding on to this, the weaker than expected U.S PPI & Jobless Claims further weakened the USD & cushioned the GER30. As seen in the chart, the index is trading near Fibonacci Expansion level 61.8 which acts as major resistance level. Strong buying may be recommended if breached the level.

Gold is trading at $2046.45, 0.12% up since previous close. A sharp rally can be seen in gold prices against the soft USD on account of poor outcome of U.S PPI & Jobless Claims data released on Thursday. Earlier, the U.S issued CPI rate which grew by 0.1% lower than expected figure of 0.2%; turned out to be positive for Gold & negative for USD. Last week, the prices slightly weakened after U.S issued better than expected Non-farm Payroll figures which raise the chances of higher rate hikes in Fed’s next meeting. The growing tension between U.S & China over Taiwan further affect the prices since China is a top consumer of metals. Strong breakout can be expected in Gold on daily basis.