EUR/USD is trading at 1.05935, 0.11% up since previous day close. An upside can be seen in EUR/USD after sliding down to lower levels earlier in this week. The traders remain cautious over Fed’s hawkish future monetary decision as U.S Fed Powell hinted for one more rate hike in this year; although keeping an interest rate steady at 5.50% in its recent meeting. On data front, the Euro-zone Money Supply fell by 1.3% against the previous figure -0.4% the Private Loans grew by just 1.0% against the expectation 1.2%. The focus will be on ECB Chair Lagarde speech due today. As seen in the chart, the pair is firmly trading below the major Moving Averages while it is still hovering near previous lows in weekly chart which indicates an either side breakout on short to medium term basis.

GER30 is trading at 15553.3, 0.07% up since previous close. The mild recovery can be seen in European markets ahead of the result of U.S inflation data due to be issued today. On global front, the growing fear over U.S hawkish monetary stance & worsening situation in property market in China subdued the markets earlier. Besides this, the chances of U.S government shutdown remains crucial for GER30 & other global markets. The German GFK Consumer Climate fell by 26.5 from 25.6 in the previous month while the Prelim CPI rate remained steady at          0.3% same as expectation. As seen in the chart, the index corrected down till Fibo level 50.0 which indicates a reversal momentum if sustained or a breakdown if breached.

Gold is trading at $1871.44, 0.02% down since previous close. The flat to lower side trading can be seen in gold prices since last two sessions amid strong USD & rising U.S bond yields as U.S Fed hinted for one mor rate hike in this year & two more hikes in the year 2024 in order to control the sticky inflation rate dragged down the precious metals. The fear looms over chances of U.S government shutdown which may remain vital for gold. Also, the worsening situation can be seen in Chinese property markets & hence, can affect consumption demand of gold since China is a major consumer of metals. As seen in the chart, the gold is trading near lower trend-line of channel pattern & hence, the cautious trading may be expected.