EUR/USD is trading at 1.09532, 0.14% up since previous day close. The EURO rallied on Tuesday after ECB Chief Lagarde showed a hawkish stance & stated that inflation is still at higher levels which requires more rate hikes in near future. The Euro-zone Flash Manufacturing PMI fell to 43.6 & Flash Services PMI dropped to 52.4 from the respective previous figures of 44.8 & 55.1. These weigh down the pair last week. The focus will be on ECB Lagarde & Fed Powell speech due today. As seen in the chart, the pair took a support of MA (10) & MA (20) & also, the ADX line started moving up from level 25 as +DI crossed over -DI. This indicates upward momentum in EUR/USD on an intraday basis.

AUS200 is trading at 7148.3, 0.12% up since previous close. The AUS200 firmly traded on higher side post release of CPI data which showed a rise of 5.6% lower than previous figure 6.8%. The progressive inflationary control measures led the economic growth & hence, pushed up the AUS200. Also, the soft USD amid hawkish ECB monetary stance in future course of time led buying pressure in Asian indices. The country’s Flash Manufacturing PMI rose to 48.6 from 48.4 & the Flash Services PMI dropped to 50.7 lower than expectation 52.1. As seen in the chart, an index showed a pullback after testing the lower trend-line of channel pattern & is hovering near MA (100). Buying on correction may be recommended for the day in AUS200.

WTI Oil is trading at $68.15, 0.12% up since previous day close. The Oil prices slightly moved up post release of U.S American Petroleum Institute (API) report which showed a drop-down in Oil stocks level by 2.48mbpd against the expected fall of 1.46 mbpd. The traders will be looking forward to the result of U.S Energy Information Administration (EIA) report which will be issued today. The supply disruption from Russia, one of the major Oil producing country amid a clash between Moscow & Russian mercenary group Wagner was averted on Saturday led to political instability in Russia led a rise in prices. As seen in the chart, the Oil is still trading below the short-term Moving Averages & hence, slight selling bias may be seen for the day.