EUR/USD is trading at 1.08122, 0.06% down since previous day close. The EUR/USD seems to be trading slightly weaker on Thursday after U.S FOMC hinted for two more rate hikes in the year 2023 despite leaving the interest rates unchanged in recent meeting. However, the trend in EURO widely depends upon the forthcoming ECB meeting which is to be held today with a hope of rate hike of 25bps; followed by ECB Press Conference. The Euro-zone Industrial Production grew by 1.0% from -3.8% in the prior month & the ZEW Economic Sentiment dropped to 10.0 lower than expectation. As seen in the chart, the pair is trading within the rising wedge patter; how-so-ever trading above the MA (100). Wait & watch strategy may be adopted for the day in EUR/USD.

CHNIND traded at 6659, 0.03% up since previous day close. The mixed trading can be seen in Chinese shares on Thursday after China issued soft key economic figures. The Industrial Production grew by just 3.5% lower than previous figure 5.6% & the Retail Sales changed by 12.7% against expectation 13.7%. The index CHNIND surges up earlier in this week after the People’s Bank of China (PBoC) cut down its short-term lending rate for the first time in 10 months. Globally, the U.S FOMC’s expected move of leaving an interest rate steady at 5.00% to 5.25% range & hinting two rate hikes in this year slightly pressurized the indices. Wait & watch strategy may be established for the day in CHNIND since the index is about to breach the upper trend-line of ascending triangle pattern.

Gold is trading at $1933.86, 0.26% down since previous close. The Gold slid down in early trade on Thursday as US FOMC hinted for two more rate hikes in this year after leaving interest rate unchanged at 5.00% to 5.25% range in its recent meeting. On Tuesday, the U.S showed an improvement in inflation rate which grew by 0.1% from 0.2% in the previous month which turned out to be negative for USD & positive for precious metals. The lending interest rate cut down by PBoC may turn out to be positive for gold prices in medium term since it raises the consumption demand of industrial metals. As seen in the chart, the Gold is on the verge of crossing down the support level & hence, the cautious trading may be seen.