NZD/USD is trading at 0.62283, 0.19% up since previous day close. The Kiwi seems to be trading flat to higher side on Wednesday after Reserve Bank of New Zealand (RBNZ) left an interest rate unchanged as expected at 5.50% amid improving inflationary conditions. Globally, the Fed officials showed the chances of pause in interest rate hike stance over the period of time which remained negative for USD & positive for other basket of currencies. The outcome of U.S CPI data will remain vital for currencies today. As seen in the chart, the pair is firmly trading between the long-term Moving Averages of period 100 & 200 which indicates strong breakout if breached. Buying bias may be established for the day.

WTI Oil is trading at $74.94, 0.37% up since previous day close. The Oil prices inches up on Wednesday amid soft USD ahead of the U.S CPI data release event which is to be held today. The U.S American Petroleum Institute (API) report showed a build-up in Crude Oil stocks level by 3.026 mbpd higher than estimation of 0.20 mbpd. The traders will be looking for the result of U.S Energy Information Administration (EIA) report due to be released today. Earlier in this week, the Saudi Arabia announced to cut Oil output level by 1 mbpd for the month of August & the Russia will cut Crude exports by 5 mbpd & this made the Oil to trade on higher side. Buying bias may be recommended for the day in WTI Oil.

INDIA50 is trading at 19446, 0.16% up since previous day close. The SGX Nifty is trading near record high levels since last few sessions amid global as well regional cues. Globally, the chances of a pause in interest rate hike stance as hinted by one of the Fed officials led the buying pressure in major indices. Earlier, the escalating tension between U.S & China after the latter imposes curbs on exports of two chipmaking making materials to U.S subdued the INDIA50. On regional front, improvement in tech & manufacturing sector & progress in controlling inflation rate made the INDIA50 to trade on positive note. As seen in the chart, the INDIA50 is trading at fresh highs & hence, a strong breakout can be expected if upside prevails further.