AUD/USD is trading at 0.63901, 0.24% down since previous day close. The Aussie slid down on Wednesday post release of CPI data release wherein the rate grew by 5.2% as expected but higher than previous rise. This indicates an increase in inflationary pressure in the country which might lead to monetary tightening in RBA’s next policy. On global front, the steady USD & rising U.S Treasury bond yields turned out to be weaker for other currencies. The U.S Fed left an interest rate constant as expected; however, hinted for one more rate hike in this year followed by two more in the year 2024. Slight selling bias may be recommended for the day in AUD/USD since it may hover near lower levels of previous lows.

GER30 is trading at 15368.3, 0.27% down since previous close. The selling pressure can be seen in European shares amid sell-off in U.S equity markets. Majorly, the U.S Fed hinted a hike in interest rate in future course of tie in order to control sticky inflation. This emerges negative sentiments amongst the traders & investors & hence, dragged down the global markets. Besides this, the rising U.S-China tenson & chances of U.S government shutdown remains crucial for GER30. The German IFO Business Climate        increases to 85.7 higher than expectation 85.1 while the result of German GFK Consumer Climate data will remain into focus for the day. As seen in the chart, the index crossed down the major support level of MA (200) & hence, slight bias may be established for the day.

WTI Oil is trading at $91.18, 0.12% up since previous day close. An upward momentum can be seen in Oil prices as concern grows towards lower supplies from major Oil producing countries. This outweighs the negative effect emerged out of hawkish Fed stance for near future. Last week, the Russia banned its fuel exports which may affect the supplies of Oil throughout the world since Russia is one of the major suppliers of Crude Oil.  & hence, made the prices to trade at higher levels. The result of U.S EIA report will remain in focus for the day. As seen in the chart, the Oil is expected to cross a major resistance level of previous highs & hence, buying may be established for the day.