AUD/USD is trading at 0.77245, 0.39% down since Wednesday. The Aussie weakened widely after China stated to suspend all activities with Australia under the China-Australia Strategic Economic Dialogue due to stressed relations between Beijing & Canberra. Besides this, the U.S Treasury Secretary Janet Yellen’s indication of raising interest rate in near future turned out to be positive for US Dollar & slightly negative for other currencies. On Tuesday, the RBA left an interest rate steady at 0.10% as expected which failed to create any major changes in AUD/USD. As seen in the chart, the pair is forming cluster support at 0.77000 levels which clearly indicates a strong breakdown if breached with a target of 0.76400 or a reversal till 0.78000 levels if sustained.

WTI Oil is trading at $65.72, 0.08% up since Wednesday. An upside continued to be seen in Oil prices post release of Energy Information Administration (EIA) report which showed a drop-down in Oil inventory level by 8.0 mbpd against the expected fall of 1.9 mbpd. Also, the American Petroleum Institute (API) report showed a fall in Oil stocks level by 7.68 mbpd against the expected fall of 2.19 mbpd which cushioned the prices. Earlier, the concern over increasing Covid-19 cases in India which limits the consumption demand of Oil; since India is one of the leading Oil consuming countries dragged down the prices. Buying bias may be established for the day in WTI Oil.

UK100 is trading at 7019, 0.28% up since Wednesday. The U.K index seems to be trading upside since last two sessions amid improving Covid-19 situation as lockdown restrictions eases down & also, supplies of Covid vaccine are working out in a progressive level. Optimism over global & economic recovery boosted up U.S equity markets & other markets as well. However, the chances of U.S interest rate hike in near term may remain bearish factor indices in long run. Upcoming BoE meet will be closely monitored today; focusing on monetary decision & QE program. As seen in the chart, index is trading above the bullish channel pattern & also, above the MA (10) which shows the chances of further buying on lower levels with a target of 7065 on short term basis.