USD/JPY is trading at 142.512, 0.02% down since previous day close. The mixed trading can be seen in Japanese YEN against the steady USD as traders waits for the result of U.S PCE Price Index data due to be issued today. Also, uncertain FOMC monetary bet in the month of March remains vital for overall market instruments. Earlier in this week, the Bank of Japan (BoJ) left an interest rate steady at -0.10%; turning ultra dovish & hence, dragged down the YEN widely. The Japan’s National Core CPI rate grew by just 2.5% lower than previous figure 2.9%. As seen in the chart, the pair USD/JPY is still trading below the Fibo level 61.8 which indicates further buying in YEN against the USD if failed to show any kind of reversal above the level.

WTI Oil is trading at $74.49, 0.12% up since previous day close. The Oil prices inches up after Angola announced its exit from OPEC, although it accounts for small portion of overall oil output & supplies by the cartel. In addition to this, ongoing tension in Middle East after Yemen’s Iran-aligned Houthi group attacked the ships in Red Sea; disrupting the supplies cushioned the prices. On contrary, the chances of ceasefire talk between Hamas & Israel & uncertain U.S Fed monetary stance will remain vital for Oil prices in future course of time. As seen in the chart, the prices showed a pullback till Fibo level 23.6 which indicates a resistance level & hence, the cautious trading may be recommended for the day.

GER30 is trading at 16852.3, 0.02% up since previous close. The sideways trading can be seen in global equity markets ahead of the release of U.S PCE Price Index data which will show the changes in inflation rate in U.S. Besides this, ongoing scandal with Japan’s biggest automaker Toyota & mixed Crude Oil prices may remain vital for GER30. The German Import Prices fell by 0.1% lower than expectation -0.4% which may impact the GER30 to some extent. Globally, the few FOMC officials showed a suspicious view over rate cut stance in the March 2024 which remains suppressive for equity markets. As seen in the chart, the index is strongly trading near the major resistance level & hence, the cautious trading may be seen as either side breakout can be expected.