AUD/USD is trading at 0.77326, 0.12% up since Thursday. The Aussie traded higher against the soft USD amid global cues as investors digested the news of chances of hiking tax rates for wealthiest Americans to meet social plans. Also, the soaring U.S bond yields cushioned the major currencies. In Australia, the Flash Manufacturing PMI rose to 59.6 from 56.8 in the previous month & the Flash Services PMI increased to 58.6 from 55.5 previously. These factors turned out to be positive for AUD/USD. As seen in the chart, the pair sustained MA (10) & MA (20) & reversed upside. Also, the RSI line seems to be taking a support of mid-level 50; indicating the chances of further upside in the pair & hence, buying on lower levels may be suggested on daily basis.

Natural gas is trading at $2.823, 0.42% up since Thursday. The Natural gas prices surges up post issue of Energy Information Administration (EIA) report which showed a build-up in Natural gas inventory level by 38B lower than expected rise of 47B. This indicates a shortage in supplies against the steady demand & hence, makes the commodity more expensive. Despite rising Covid-19 cases in few countries, the prices are shooting up amid uplifting lockdowns in U.K & European regions & changing climatic conditions in U.S & Europe as well. As seen in the chart, the Natural gas is strongly trading above the short term Moving Averages & may cross the previous highs. Further buying may be initiated in the commodity.

FRA40 is trading at 6183, 0.28% up since previous day close. The mixed opening can be seen in FRA40 on Friday amid global cues. On Thursday, the U.S President Joe Biden proposed to hike the taxation rate of wealthiest Americans to 40% in order to fund social plans which drove off the U.S markets. However, an improvement in Euro-zone economic recovery & uplifting lockdowns in major European regions may remain positive factors for FRA40. The focus will remain on the result of PMI figures which are to be published today. As seen in the chart, the index FRA40 successfully took a support of MA (10) & MA (20) & is floating in a bullish channel pattern; forming lower bottoms which indicate a buying bias may be adopted on daily basis.