GBP/USD is trading at 1.24376, 0.06% up since previous day close. The USD retreated on Thursday after Fed officials hinted for the chances of rate hike pause in the upcoming FOMC meeting in the month of June. Besides this, the U.S debt ceiling agreement has been passed out by U.S House of Representatives; still, it is in process to fetch the final vote from Senate as deadline of June 05 is approaching for U.S default. The traders will be looking forward to the result of Final Manufacturing PMI & Net Lending to Individuals data release today. As seen in the chart, the pair seems to be taking a support of Fibo level 38.2 & also, sustained the MA (100). This signals for the possibility of upside if successfully crosses over MA (20) on daily basis.

FRA40 traded at 7129, 0.11% down since previous day close. The FRA40 is expected to open on higher note on Thursday amid positive global outlook. The majority of U.S House of Representatives voted in favor of averting debt ceiling bill worth $31.4 trillion just five days before the June 05 deadline of U. default; however, the bill is seeking a final vote from U.S Senate. The Few Fed officials hinted for a pause in U. rate hike process for the month of June which again cushions the world indices. The result of French Final Manufacturing PMI data will remain in focus for the day. As seen in the chart, the FRA40 almost crossed down the lower trend-line of channel pattern; however, the today’s candle will remain vital & hence, the cautious trading may be recommended for the day.

Gold is trading at $1964.48, 0.16% up since previous close. The Gold showed a moderate recovery on Thursday against the soft USD after few Fed officials hinted for a pause n rate hike process for the next meeting which is to be scheduled on June 14. Besides this, the U.S House of Representatives passed a bipartisan bill to avert the U.S debt ceiling worth $34 trillion; however, the bill is yet to be cleared by U.S Senate. The China posted upbeat Caixin Manufacturing PMI figures today which boosted up the prices since China is a top consumer of metals. As seen in the chart, the Gold reversed up from major support level of MA (100) & signals for a buying momentum on daily basis.