AUD/USD is trading at 0.67613, 0.02% down since previous day close. The Australia issued weaker than expected labor data wherein the number of employed people rose by just 33.5K lower than expectation 35.5K & the Unemployment Rate grew to 3.5% from 3.4% in the previous month. Earlier, the strong USD amid higher U.S inflation rate data wherein the reading increased by 0.1% above an expectation strengthens the chances of 75bps rate hike stance in the forthcoming Fed meeting turned out to be weaker for other currencies. As seen in the chart, the pair corrected down till lower trend-line of channel pattern & is trading below Moving Averages in weekly chart; which indicates the chances of either side breakout situation on short to medium term basis.

WTI Oil is trading at $88.06, 0.08% up since previous day close. The mild recovery can be seen in Oil prices against the steady USD post rally seen in the previous session. The U.S EIA report showed a rise in Oil inventory level by 2.4mbpd against the expected build-up of 1.9 mbpd. On Tuesday, the U.S API report showed a rise in Oil stocks level by 6.035 mbpd against the expected fall of 0.20 mbpd. Earlier, the slight upside was seen in Oil prices after Russia stopped the gas flow from Nerd Stream Pipeline 1 to Germany last week. The OPEC & its allies hinted for output cut in the latest meeting in order to stabilize the volatile Oil prices. Sideways trading may be suggested for the day in WTI Oil.

UK100 is trading at 7310.3, 0.02% down since previous day close. The range bound trading can be seen in UK100 on Thursday amid steady USD ahead of the key U.S data release of Retail Sales & Jobless Claims. Earlier, the worst U.S CPI data & strong chances of interest rate hike of 75 bps in the Fed meeting which is to be held in September led the downside in equity markets. The U.K’s CPI rate grew by just 9.9% lower than 10.1% in the previous month while Core CPI showed better results. The traders will be looking forward to the country’s Retail Sales data on Friday.  As seen in the chart, the index is trading near the short term Moving Averages of period 10 & 20 & hence, upside may resume if sustained on higher side.