EUR/USD is trading at 1.05231, 0.19% up since previous day close. The EURO inches up against the USD amid soft U.S ADP Employment Change data which indicates slowdown in labor sector. This moved off U.S bond yields from its 16-year highs on Wednesday. However, the focus will be on U.S NFP data release event which is to be held on Friday. Last week, the Fed left an interest rate constant as expected; however, hinted for one more rate hike in this year which weigh down EUR/USD. The better-than-expected Euro-zone Final Services PMI figure remained supportive for EUR/USD. As seen in the chart, the EUR/USD is trading near major support of previous lows & hence, slight buying may be recommended for the day.
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Near Day |
R3 | 1.06585 |
R2 | 1.05776 |
R1 | 1.05423 |
Turnaround | 1.04960 |
S1 | 1.04614 |
S2 | 1.04157 |
S3 | 1.03349 |
US100 is trading at 14931, 0.09% up since previous day close. The recovery can be noticed in U.S markets as U.S Treasury bond yields moved off from 16-month highs on account of soft USD & poor ADP Employment Change figures released on Wednesday. Also, the aversion of U.S government shutdown on tentative basis led some buying pressure in US100. The traders will be looking forward to the result of U.S Non-farm Payroll data which is to be issued on Friday. Earlier, the index slid down amid possible chances of interest rate hike be end of this end; as hinted by Fed Powell last week. As seen in the chart, the index almost took a support of previous lows; formed double bottom & is on the verge of crossing over MA (10) & MA (20). Buying bias may be established for the day.
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Near Day |
R3 | 15552.00000 |
R2 | 15185.00000 |
R1 | 15049.00000 |
Turnaround | 14818.00000 |
S1 | 14682.00000 |
S2 | 14451.00000 |
S3 | 14084.00000 |
WTI Oil is trading at $84.67, 0.08 up since previous day close. The Oil prices inches up after OPEC+ maintained their plan over cutting down Oil production levels by 1.3 mbpd on Wednesday; but did not mention any cut-off for the year 2024. The recent U.S EIA report fell by 2.2 mbpd against the expected fall of 0.1 mbpd. Earlier, the chances of one more interest rate hike be end of this year as hinted by Fed Chair Powell weigh down the Oil prices. The result of U.S NFP report will be for this week. As seen in the chart, although the commodity reversed down from major resistance level yet it is sustaining the MA (10) & MA (100) levels on lower side. Wait & watch strategy may be adopted for the day in WTI Oil.
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Near Day |
R3 | 96.87000 |
R2 | 91.44000 |
R1 | 87.80000 |
Turnaround | 86.01000 |
S1 | 82.44000 |
S2 | 80.58000 |
S3 | 75.15000 |
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