GBP/USD is trading at 1.38776, 0.07% up since Monday. The Sterling Pound seems to be trading slightly on higher side against the firmer USD post Fed Powell’s speech wherein a long-run towards economic recovery have been narrated. Besides this, uplifting lockdown phase in U.K & progressive vaccine supplies cushioned the GBP/USD. Last week, the U.S Fed failed to live up to the traders & investors expectations over tapering down the bond purchases program which forced USD to trade lower & Pound stronger. The result of U.K PMI data will remain into focus. As seen in the chart, the pair is trading above the short term MA (10) & MA (20) with a strong resistance level of 1.4000 levels. Slight buying may be initiated in GBP/USD on daily basis.

Coffee is trading at $140.32, 0.27% down since previous close. The slight profit-booking can be seen in Coffee prices after rallying to higher levels last week. The soft USD turned the Brazilian Real (BRL) currency stronger which makes the Brazilian farmers to fetch more profits while exporting the beans to U.S & hence, makes the commodity more expensive. Also, the lockdown in few countries forces people to store consumer goods & products which again push up the demand & prices. As seen in the chart, the Coffee corrected till MA (10) & hence, a breakdown till MA (20) can be seen if downside prevails. Otherwise, an upside till $146 can be expected if sustained the current levels.

AUS200 is trading at 7036, 0.35% up since Monday. An upside edged over Asian shares on Tuesday after U.S Fed showed a considerable recovery; still a long way to go for complete revival. Besides this, easing out of lockdown restrictions in few countries & progressive distribution of Covid-19 vaccine doses supported the AUS200. The RBA left its interest rate decision steady as expected at 0.10% & hinted for necessary actions if required further. Upcoming U.S NFP data will remain in focus later in this week which will show the labor sector status of an economy. As seen in the chart, index is trading above the bullish channel pattern & also, above the MA (10) which shows the chances of further buying on lower levels with a target of 7060 on short term basis.