EUR/USD is trading at 1.07873, 0.03% up since previous day close. The EURO seems to be trading sideways amid mixed global cues. The weaker Chinese Services PMI figures affected the positive global sentiments & hence, the major currencies slid down on Tuesday. The Euro-zone Final Manufacturing PMI fell to 43.5 from 43.7 in the previous month while the traders will be eying the result of Services PMI figures due to be issued today. Globally, uncertain Fed monetary outlook in upcoming meeting makes the currencies volatile. As seen in the chart, the pair is trading near major support level of long-term MA (100) & hence, a reversal may be expected if sustained the levels. Wait & watch strategy may be adopted for the day.

US100 is trading at 15502, 0.02% down since previous day close. The flat to lower side trading can be seen in U.S markets as market sentiments weakened on account of slowdown in Chinese Services PMI figure. Last week, the NFP data showed a rise in number of employed people by 187K from 157K & the ISM Manufacturing PMI climbed to 47.6 from 46.4 in the previous month. The easing down of fear over hawkish Fed monetary outlook in the upcoming meeting of September led buying pressure in US100 earlier in this week. As seen in the chart, the index is trading above the short-term Moving Averages of period 10 & 20 & above the Fibo level 23.6. This indicates a buying momentum on short to medium term basis in US100.

Gold is trading at $1938.46, 0.02% down since previous close. The range bound trading can be seen in precious metals after China posted weaker Services PMI figures indicating slowdown in economic growth. This may affect the gold prices since China is a top consumer of metals. Earlier, the fear cooled down over chances of higher interest rate hike in upcoming Fed meet & hence, turned out to be positive for prices. Last week, the U.S showed no major change in inflation figures; making uncertain the Fed’s future monetary outlook & hence, restricted the gains in gold. As seen in the chart, the commodity is trading near long-term MA (100) & hence, wait & watch strategy may be adopted for the day.