EUR/USD is trading at 1.05834, 0.01% down since previous day close. The Euro slightly recovered in early trade on Wednesday as an upside in USD seems to be easing down. Besides this, the traders are digesting the negative effect of hawkish monetary policy news which revives the trading volume on buying side. On data front, the Euro-zone Money Supply grew by just 3.5% lower than previous figure 4.1% & the Private Loans increased by 3.6% against the expectation 3.9%. Earlier, the strong USD after Fed Minutes showed the chances of aggressive rate hike stance led selling pressure in other major currencies. As seen in the chart, the pair is hovering near MA (100) & Fibo level 38.2 acts as major support level. Wait & watch strategy may be build-up for the day.

CHNIND is trading at 6823.8, 0.18% up since previous day close. The Chinese shares surges in early trade on Wednesday after the country posted better than expected PMI figures. The Manufacturing PMI rose to 52.6 & the Non-Manufacturing PMI climbed to 56.3 from their respective expected figures of 50.7 & 55.0. Also, the Caixin Manufacturing PMI rose to 51.6 from 49.2 in the previous month. These reading indicated a progress in Chinese manufacturing & industrial activities & hence, pushed up an index CHNIND. Globally, uncertainty over Fed’s next monetary decision will remain vital for CHNIND. As seen in the chart, the index seems to be taking a support of MA (200) & hence, slight buying bias may be expected for the day in CHNIND.

Gold is trading at $1808.94, 0.08% up since previous close. The Gold prices inches up since last session after U.S issued softer Consumer Confidence data which weakened the US Dollar Index. The China posted better PMI figures on Wednesday which may again turn up positive for Gold & Silver since China is a major consumer of metals. Earlier, the Gold soared down to three-month lows after FOMC Minutes hinted for higher interest rate hike chances in the next Fed meeting. However, the long term trend in precious metals may remain intact as economic conditions in China seem to be improving. A bullish engulfing candle is formed in Gold with strong trading volume & hence, buying bias may be recommended for the day.