GBP/USD is trading at 1.19298, 0.13% up since previous day close. The Sterling Pound slightly appreciated in early trade on Friday against the steady USD ahead of the release of U.S NFP Payroll data due today. On Thursday, one of the major U.S financial institutions, SVB Financial Group, showed cash burn from clients & reported losses for last quarter. This led selling in USD & cushioned other basket of currencies. On regional front, the traders will be looking forward to the result of U.K.’s GDP & Production figures which will signify the status of economic conditions of U.K. As seen in the chart, the pair is trading near MA (200) & also, at Fibo level 38.2. These acts as major support level & sideways moving RSI line indicates the chances of upward momentum if sustained the current levels.

US100 is trading at 11970.3, 0.13% down since previous close. A heavy sell-off can be noticed in U.S markets on Thursday after SVB Financial Group showed a cash-burn from clients & posted losses for last quarter. This weakened the banking sector at whole & also, weakened the market sentiments. Apart from this, the traders are looking froward to the result of NFP Payroll data due today. The fear still looms over chances of aggressive rate hikes in coming Fed meets which suppresses the US10 to some extent. The U.S Jobless Claims rose to 211K from 190K in the previous month which shows slowdown in labor sector. As seen in the chart, although an index slid down yet it consistently takes the support of MA (200). Wait & watch strategy may be adopted for the day.

Gold is trading at $1833.24, 0.09% up since previous close. The safe haven instruments like Gold & YEN witnesses some gains on Friday against the soft USD after U.S SVB Financial Group posted quarter losses & showed cash-burn from its clients. Also, the U.S revealed soft Jobless Claims figures which further weakened the USD & cushioned the precious metals. Earlier, the Gold plunged down to recent lows of $1810 levels as chances of higher interest rate in next Fed meeting have been hinted by FOMC Chair Powell. Improving Chinese economic conditions may make the Gold a promising instrument on long term basis. Buying on corrective dips may be recommended as the commodity is strongly forming the double bottom.