NZD/USD is trading at 0.58922, 0.16% down since previous day close. The downward momentum can be seen in Kiwi after RBNZ left interest rate steady at 5.50% as expected. On global front, the strong USD as traders remain cautious over Fed’s chances of hiking an interest rate one more time by end of this year turned out to be suppressive for other currencies. Also, the slowdown in Chinese industrial sector makes the NZD/USD weaker since China & New Zealand are the trading partners. The result of ANZ Commodity Prices data will remain into focus for the day. As seen in the chart, the pair seems to be sliding down to lower trend-line of channel pattern which indicates a make-or-break situation on daily basis. Slight selling bias may be recommended for the day in NZD/USD.

FRA40 is trading at 7013.3, 0.21% down since previous close. The European shares seems to be trading on lower side & so, FRA40 is expected to open on negative note on Wednesday mid soft global cues. The strong USD & rising U.S bond yields on an account of growing fear over U.S hawkish monetary stance wherein a rate hike is expected by end of this year.  Besides this, the chances of U.S government shutdown remains crucial for global markets. On data front, the French Final Manufacturing PMI rose to 44.2 from 43.6 in the prior month while the focus will be on Final Services PMI data due today. As seen in the chart, the index is trading near previous lows which acts as a major support level & hence, slight selling bias may be recommended for the day.

WTI Oil is trading at $89.22, 0.02% down since previous day close. The mixed trading can be seen in Oil prices in early trade on Wednesday as U.S American Petroleum Institute (API) report showed a fall in Oil stocks level by 4.21 mbpd against the expected fall of 0.092 mbpd. On contrary, the chances of one more interest rate hike be end if this year as hinted by Fed Chair Powell weigh down the Oil prices. Besides this, the concern over lower supplies from major oil producing countries like Russia & Saudi Arabia remains supportive for Oil prices. Th result of U.S EIA report will be eyed today. As seen in the chart, the commodity is still trading major resistance & hence, slight sideways trading may be suggested further.