NZD/USD is trading at 0.61558, 0.02% down since previous day close. The strong USD after two of the FOMC members hinted for chances of rate hike stance in the next meeting as inflation rate is still on the higher side led the selling pressure on Kiwi. On data front, the New Zealand’s CPI rate grew by just 1.2% lower than 1.4% in the previous month & hence, lowered down the NZD/USD. Besides this, the result of Chinese Trade Balance data will remain into focus on Thursday since China & New Zealand are the trading partners. As seen in the chart, the pair NZD/USD is trading near the Fibo level 38.2 & may test the long-term MA (200) on daily basis. Hence, a breakdown can be seen if breached the current level otherwise a strong reversal can be noticed if sustained.

US100 is trading at 13140, 0.03% up since previous day close. The U.S markets seems to be trading in a tight range after U.S Fed official hinted for chances of further rate hike stance in next meeting in order to control higher inflation rate. Also, the weaker corporate earnings of few tech companies led negative sentiments amongst the traders & investors. The U.S Building Permits fell to 1.41M from 1.55M in the previous month while the Housing Starts rose to 1.42M above expectation 1.40M. The outcome of Jobless Claims & Philly Fed Manufacturing Index will remain vital for US100. As seen in the chart, the index is trading above the short-term Moving Averages & a reversal can be expected if sustained the level. Buying on corrective dip may be recommended for the day.

Gold is trading at $1993.42, 0.06% down since previous close. The Gold prices subdued on Thursday against the strong USD after Fed officials hinted for rate hike in next meeting with a concern to cut down the inflationary pressure. Also, the mixed U.S Housing data & softer corporate earnings pushed up the US Dollar Index & weakened the gold prices. Last week, 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. The result of U.S Jobless Claims data will remain in focus for the day. Wait & watch strategy may be adopted for the day since the commodity is hovering sideways near MA (10) & also, at Fibo level 23.6.