AUD/USD is trading at 0.66483, 0.12% down since previous day close. The Aussie weakened post release of poor labor data wherein the number of employed people fell by 4.3K against the expected rise of 24.8K & the Unemployment Rate grew by 3.7% from 3.5% in the previous month. The weaker Chinese economic figures further dragged down the AUD/USD since Australia & China are the trading partners. On global front, the optimism hovers over debt-ceiling negotiations after U.S Biden said that the deal may be soon reached to raise the limit. As seen in the chart, although the pair is trading within the consolidation phase yet it is slightly hovering below the MA (200). Selling bias may be recommended for the day.

INDIA50 is trading at 18239, 0.06% up since previous day close. The SGX Nifty showed a mild recovery on Thursday after sliding down in the previous session amid global cues. The fear over U.S debt ceiling issue eases down after U.S President Joe Biden said that the deal to raise a ceiling limit may be soon reached out; as the June1 deadline is approaching. However, the tension over aggressive rate hike in FOMC’s next meeting amid higher inflation & employment rate made the indices to trade on lower side. The mixed regional cues over ongoing corporate earnings & lower WPI rate limits the loss in INDIA50. As seen in the chart, the INDIA50 is trading near short-term MA (10) & MA (20) & if sustained, a reversal may be noticed on daily basis.

Silver is trading at $23.642, 0.02% down since previous close. The precious metals remain subdued on Thursday against the strong USD as tension over ongoing debt-ceiling negotiations eased down after U.S Biden said that the deal to raise a limit may be soon reach out. Besides this, the weaker Chinese economic data further weigh down the silver prices since China is a top consumer of metals. The chances of aggressive U.S rate hike in near future amid higher inflation rate & higher labor data turned out to be positive for USD & negative for precious metals. As seen in the chart, the Gold slid down till Fibo level 38.2 which indicates a make-or-break situation & hence, the sideways trading may be expected for the day.