GBP/USD is trading at 1.27289, 0.03% down since previous day close. The Pound slid down to lower levels on Thursday post release of Bank of England (BoE) meeting wherein an interest rate was hiked by 25bps as expected leading to 5.25% from 5.00%. However, the lesser hawkish monetary stance in future made the Pound weaker. Also, the strong USD ahead of the U.S Non-Farm Payroll data release event led the selling pressure in other currencies. The U. K’s Final Services PMI remained steady at 51.5 while the focus will remain on Construction PMI figures which are to be released today. As seen in the chart, the pair plunged down to long-term MA (100) which acts as a major support level & hence, either side breakout can be expected on daily basis.

US100 is trading at           15516, 0.08% down since previous day close. The downward momentum can be seen in U.S markets as traders remain cautious ahead of Non-farm Payroll data which is to be issued today. Earlier in this week, the Fitch’s move of downgrading U.S economy from AAA to AA+; with concern over rising fiscal deficit led the selling pressure in US100. Last week, the index moved on higher side as optimism looms over more stimulus measures to be offered to Beijing in order to boost economic growth; since China & Japan are the trading partners. The ISM Services PMI fell to 52.7 from 53.9 in the previous month. As seen in the chart, the index is still trading above the MA (10) & MA (20) which indicates the mixed trading on an intraday basis.

WTI Oil is trading at $81.75, 0.11% up since previous day close. The Oil prices inches up after Saudi Arabia & Russia extended their oil output & supply cut till end-December in OPEC-JMMC meeting held on Thursday. The recent U.S EIA report showed a draw-down in Oil inventory levels by 17 mbpd against the expected fall of 0.9 mbpd. This massive shortage made the commodity more expensive. Globally, the mixed USD amid U.S credit rating cut, progressive Chinese stimulus talks & ahead of US NFP data release made the Oil prices to trade higher. The result of U.S Baker Hughes report will remain into focus for the day. Buying on corrective dips may be recommended for the day.