USD/JPY is trading at 140.654, 0.16% down since previous day close. The YEN weakened in early trade on Monday post Bank of Japan (BoJ) meeting wherein an interest rate was left steady at -0.10%. The steady USD after Fed left an interest rate unchanged; however, the Fed Chair Powell hinted for two more rate hikes in this year led selling pressure in YEN. The Japan’s Core Machinery Orders grew by 5.5% from -3.9% in the previous month & the Trade Balance fell to 0.78T from 1.04T.  As seen in the chart, the USD/JPY is consistently trading above the short-term Moving Averages of period 10 & 20 which indicates the further selling pressure in YEN against the USD on daily basis.

US100 is trading at 15356.3, 0.23% up since previous close. A strong rally can be seen in US markets amid multiple factors on global & regional level. On Wednesday, the US100 surges up post Fed meeting wherein although an interest rate was left unchanged as expected yet the Fed Chair Jerome Powell hinted for two smaller rate hikes later in this year in order to tame down the inflation rate which is at 4.1% currently. Other than this, the ECB hiked an interest rate by 25 bps whereas BoJ holds monetary policy steady. Earlier, the U.S President Joe Biden signed a debt ceiling bill to avert $31.4 trillion worth of debt repayment till January, 2025 over the last weekend which turned out to be positive for US100. Buying bias may be established for the day in US100

WTI Oil is trading at $70.81, 0.06% up since previous day close. Optimism hovers over improving Chinese & global growth which may retain the consumption demand of Oil & prices inches up on Friday. Earlier, the Oil prices moved down post release of U.S Energy Information Administration (EIA) report which showed a rise in Oil inventories level by 7.9 mbpd against the expected fall of 1.3mbpd. The China’s PBoC cuts down short term interest rate which pushed up the prices earlier in this week. The U.S Baker Hughes is to issue its Oil rig counts figures today which will remain in focus. As seen in the chart, the Oil is hovering near MA (10) & MA (20) which shows the chances of make-or-break situation further.