GBP/USD is trading at 1.26903, 0.02% down since previous day close. The Pound slightly depreciated against the strong mixed USD post FOMC Meeting Minutes which hinted the hawkish stance over future monetary policy. The Bank of England’s move of raising interest rate by raising 50bps higher than expected hike of 25bps led the Pound to trade on higher side to some extent. On data front, the U. K’s Final Manufacturing PMI rose to 46.5 from 46.2 whereas the Final Services PMI remained steady at 53.7. The focus will be on the result of Construction PMI data which is to be issued today. As seen in the chart, the pair GBP/USD seems to be trading near MA (10) & MA (20) which acts as a crucial level & hence the cautious trading may be recommended for the day.

US30 is trading at 34400 , 0.08% down since previous day close. The U.S markets slid down on Thursday after FOMC Minutes showed the higher chances of interest rate hike in upcoming meetings in order to tame down the inflation.  Also, the escalating tension between U.S & China after the latter imposes curbs on exports of chipmaking making materials to U.S subdued the US30. The Final Manufacturing PMI remained steady at 46.3 as expected while the result of Services PMI figures will remain into focus today. The market will be looking forward to ADP Non-Farm Employment figures as well. As seen in the chart, the US30 is trading near MA (10) which acts as major support level & hence, the cautious trading may be seen for the day.

WTI Oil is trading at $71.67, 0.02% up since previous day close. The Oil prices inches up on Thursday post U.S American Petroleum Institute (API) report which showed a fall in Oil stocks level by 4.28 mbpd against the expected fall of 1.80 mbpd; as this indicate lesser supplies for the week. The market will be looking forward to the result of U.S Energy Information Administration report which will be issued today. The rising tension between U.S & China as China imposes curbs on exports of chipmaking materials to U.S; may hamper the Oil demand. The outcome of OPEC meeting will remain vital for the prices. Slight buying bias may be established for the day in WTI Oil.