EUR/USD is trading at 1.07205, 0.02% down since previous day close. The USD slightly strengthened post U.S CPI data wherein the rate grew by 6.4% higher than expectation on year-to-year basis. This turned out to be negative for other currencies. Last week, the robust U.S Non-Farm Payroll showed a progress in employment figures which may raises the chances of higher interest rate in the next FOMC meet; affecting the EURO widely. On data front, the Euro-zone Flash GDP remained steady at 0.1% & the Employment Change grew by 0.4% from 0.3% previously. As seen in the chart, the pair corrected down till MA (10) which acts as a major support level & also, indicates the possibility of breakdown if breached otherwise a reversal can be seen if sustained.

UK100 is trading at 7920.3, 0.14% up since previous close. The UK100 seems to be trading more on positive side as compared to other global markets. The investors are looking forward to the result of U.K’s CPI data which is expected at 10.3% versus 10.5% in the previous month. This positive sentiment boosted up the UK100 in early trade on Wednesday. On contrary, the U.S issued higher interest rate leading to 6.4% higher than expectation which may raise the chances of aggressive rate hikes in next FOMC meeting; turned out to be slightly negative for equities in the previous session. As seen in the chart, the index successfully crossed over the major resistance level; & has entered into a breakout zone. Buying on corrective dips may be recommended for the day in UK100.

Gold is trading at $1848.24, 0.03% down since previous close. The slight selling pressure can be noticed in Gold prices on Tuesday after U.S issued PCI data wherein the figure grew to 6.4% higher than expectation which strengthened the USD. This raises the chances of aggressive rate hikes in Fed’s next meeting. Last week, the few Fed members hinted a hawkish stance in the next fed meeting amid better than expected U.S Non-farm Payroll data. Earlier, progress in Chinese economic conditions remained bullish for metal prices & hence, Gold shot up to $1960 since China is a top consumer of precious metals. Slight selling pressure may be noticed on intraday basis in Gold.