AUD/USD is trading at 0.63191, 0.09% down since previous day close. The Aussie seems to be trading downside amid multilobe global cues. The steady USD, rising U.S bond yields, escalating geo-political tension between Hamas & Israel & surging Oil prices. The suspicious chances of interest rate hike in Fed’s near-term monetary policy meeting made the other currencies slightly bearish. On data front, the Australia’s Employment Change figure grew by just 6.7K lower than expectation 20.6K while the Unemployment Rate fell to 3.6% from 3.7% in the previous reading. As seen in the chart, the pair is trading near lower trend-line of channel pattern & hence, either side breakout may be recommended for the day.

CHNIND is trading at 5901.3, 0.02% up since previous close. The mixed trading can be seen in Chinese shares after PBoC left short term & long-term interest rate unchanged at 3.45% & 4.20% respectively. This outweighed the negative effect on equity markets emerging out of global cues. The surging Oil prices, rising geo-political tension between Middle East regions & higher U.S bond yields contributed in weakness in market sentiments. Earlier in this week, the Chinese Industrial Production grew by 4.5% above expectation 4.4% & the GDP rate increased by 4.9% against expected rise of 4.5%. As seen in the chart, the index is hovering lower trend-line of channel pattern which indicates a reversal if sustained or a strong breakdown if breached.

WTI Oil is trading at $89.29, 0.27% up since previous day close. An upward momentum can be seen in Oil prices after US President Joe Biden unveils the plan to refill Oil SPR levels beginning from the month of December this year. Also, the escalating tension between Hamas & Israel remains bullish for Oil prices since this may affect the Oil supplies. The U.S EIA report showed a drop-down in Oil inventory levels by 4.5 mbpd against the expected fall of 0.5 mbpd. This further cushioned the prices. The result of U.S Bake Hughes report will remain into focus for the day. As seen in the chart, the Oil is crossed over Fibo level 23.6 which indicates a buying pressure on daily basis.