AUD/USD is trading at 0.67093, 0.19% down since previous day close. The Aussie turned out to be negative post release of mixed PMI figures. The Australia’s Flash Manufacturing PMI rose to 48.6 from 48.4 whereas the Flash Services PMI fell to 50.7 from 52.1. On global front, the Fed showed smaller pace of two more interest rate hikes in the year in his latest testifying speech which dragged down the major currencies.  The surprise move of BoE over 50bps rate hike may affect shows the slowing economic progress & hence, Aussie softened. As seen in the chart, the pair crossed down the Fibo level 38.2 & is heading towards major correction level of Fibo 50 & also, surpassed the MA (200). MA (100) can be a next support level & selling bias may be recommended for the day.

GER30 is trading at 15996.3, 0.22% down since previous close. The profit-booking can be seen in European markets amid weak global cues. The U.S Fed Chair Powell’s testifying speech showed a hawkish stance of smaller rate hike in future course of time to curtail the inflation which subdued the major indices. Also, the BoE’s surprise move of raising interest rate by 50 bpd higher than expected hike of 25bps further led a selling pressure. The result of German Flash Manufacturing PMI & Flash Services PMI today which will remain vital for GER30. As seen in the chart, an index retraced down till lower trend-lien of bullish channel pattern & a breakdown can be seen in breaches the same. Wait & watch strategy may be built up for the day in GER30.

Silver is trading at $22.147, 0.16% down since previous close. The downside can be seen in precious metals against the steady USD after Bank of England (BoE) hiked an interest rate by 50bps much higher than the expected hike of 25bps leading the rate to 5.00% from 4.50% in order to control inflationary pressure & boost economic growth. Besides this, the U.S Fed Chair Powell hinted for a hawkish stance in future meetings; however, the rate hikes would be in conservative approach. The China’s PBoC cuts down its Prime Lending Rate (PLR) by 10 bps lower than expectation which dragged down the prices; for China is a major consumer of metals. Slight selling bias may be recommended for the day.