EUR/USD is trading at 1.09721, 0.02% down since previous day close. The mixed US Dollar Index as traders remain suspicious over the chances of higher interest rate hike in the upcoming meeting led range bound momentum in other currencies. On data front, the Euro-zone ZEW Economic Sentiment fell to 6.4 from 10.0 in the previous month which made the EURO weaker. The result of Current Account & Final CPI data will remain in focus for the day. As seen in the chart, the EUR/USD surged up to major resistance of previous highs which shows the chances of breakout if breached the level. The ADX line is moving sideways at level of 25; signaling for wait & watch situation on short term basis.

INDIA50 is trading at 17672.3, 0.09% down since previous close. The profit-booking phase can be noticed in SGX Nifty since last two trading sessions as traders & investors squared up their long positions after an index tested two-month highs of 17800 levels. Last week, the India issued better than expected CPI data which fell down to 5.7% & also, the RBI left an interest rate steady. This made the INDIA50 to test the higher levels. Globally, the traders remain cautious over interest rate hike stance in Fed’s upcoming meeting in the month of May. The growing tension between U.S & China over Taiwan & ongoing corporate earnings season may remain significant for global indices. Sideways trading may be seen for the day in INDIA50.

WTI Oil is trading at $80.69, 0.02% up since previous day close. The Oil prices slightly edges higher on Wednesday post release of U.S American Petroleum Institute (API) report which showed a drop-down in Oil stocks level by 2.675 mbpd against the previous build-up of 0.377 mbpd. On positive side, the better-than-expected Chinese GDP & Retail Sales figures turned out to be positive for Oil to some extent; since China is a major consumer of Oil. On Monday, the strong USD after U.S hinted for the chances of higher rate hikes in the near future led selling bias in dollar denominated commodity like WTI Oil. As seen in the chart, the Oil retraced down till MA (200) which indicates the chances of either side breakout on daily basis.