EUR/USD is trading at 1.12352, 0.31% up since previous day close. A sharp spike can be seen in EURO since last two sessions amid soft USD on account of softer-than-expected U.S CPI rate change issued on Wednesday; which may restrict the chances of aggressive interest rate hike by Fed in this year. On contrary, the ECB maintains its hawkish monetary stance over future course of time which makes the EURO to trade on higher side. The result of Trade Balance data will remain in focus for the day. As seen in the chart, the pair successfully crossed over the long-term Moving Average of period which shows the buying bias at each & every corrective dip on an intraday basis.

UK100 is trading at 7424, 0.19% up since previous day close. The U.K index saw an upward momentum in the previous session as global sentiments turned positive. Majorly, the U.S CPI rate grew by just 0.2% lower than expectation 0.3% which gave a sigh of relief amongst the traders as this may reduce the aggressive rate hike stance in Fed’s meeting. This widely cushioned the major indices. In U.K, the GDP fell by 0.1% lower than expected fall of 0.3% while the NIESR GDP Estimate showed no major change in the result. As seen in the chart, the UK100 formed a double bottom at 7200 levels & acted as a major support level as well. The index reversed upside & has approached MA (100). Further buying may be recommended for the day in UK100.

WTI Oil is trading at $76.94, 0.31% up since previous day close. The Oil prices tested 10-weeks high on Thursday amid supply disruptions from Libya & Nigeria; two major Oil producing countries. Globally, the softer than expected U.S CPI data which signaled for a progressive control over inflationary pressure in U.S may retain the Oil demand & hence, pushed up the prices. The chances of stimulus package offering to Beijing may further support the prices since China is a top consuming country of Oil. The result of U.S Baker Hughes report will remain in focus for the day. Buying bias may be recommended for the day since the commodity successfully crossed over MA (200).