GBP/USD is trading at 1.25862, 0.13% up since previous day close. The Sterling Pound strengthened against the USD after U.S FOMC expectedly hiked interest rate by 25bps however hinted for a pause in monetary tightening in the next meeting. On regional front, the U.K issued Final Manufacturing PMI data which rose to 47.8 from 46.6 in the previous month which turned out to be slightly positive for GBP/USD earlier. The market will be looking forward to the result of Final Services PMI data which is to be issued on Thursday. As seen in the chart, the pair took a strong support of short-term Moving Averages of period 10 & 20 & has crossed previous highs; entering into breakout zone. Buying on dips may be suggested for the day in GBP/USD.

CHNIND is trading at 6698, 0.06% up since previous day close. The Chinese markets opened on a positive note after resuming from a holiday on account of national event. The Caixin Manufacturing PMI fell to 49.5 from 50.0 in the previous month which failed to create any negative impact on CHNIND. On global front, the U.S FOMC hiked an interest rate by 25 bps as expected how-so-ever hinted for pause in rate hikes in the next meeting. This cushioned the major equity markets to some extent. An upcoming U.S NFP data release event later in this week will remain significant for CHNIND. As seen in the chart, the CHNIND seems to be forming reversal phase after testing the major support of MA (200) & hence, buying on lower levels may be recommended for the day.

Silver is trading at $25.754, 0.23% up since previous close. The precious metals sharply rebounded on Wednesday against the softer USD after FOMC hiked an interest rate by 25 bps as expected; however, hinted for a likelihood of dovish stance in next meet. Also, the prices move on higher side as the global outlook turned positive over precious metals & equity markets. The positive opening of Chinese equity markets makes the industrial metals like Silver expensive since China is a major consumer of metals. As seen in the chart, the Silver took a support of short-term Moving Averages & is now hovering near previous highs which indicates a strong buying bias if breached the level.