GBP/USD is trading at 1.41710, 0.37% up since Monday. The Pound seems to be appreciated the most against the USD due to strong global & regional cues. The traders & investors remain cautious towards upcoming Fed meeting Minutes which is to be issued on Wednesday hinting over monetary outlook. Regionally, progressive supplies of Covid-19 doses & easing down lockdown restrictions cushioned the GBP/USD even more. The market will be looking forward to the result of U.K’s labor data which is to be released today. As seen in the chart, the GBP/USD is strongly trading near major resistance level of previous highs which increases the chances of further buying if upside prevails.

WTI Oil is trading at $66.41, 0.39% up since Monday. The Oil prices surges up on Tuesday as global sentiments improved over chances of Fed keeping interest rates lower despite rising inflation figures. Also, the soft US Dollar makes the dollar denominated commodities like Crude Oil more expensive. On Friday, the U.S Baker Hughes report showed a rise in Oil rig counts by 8 leading to 352 from 344 in the previous week. The depleting number of Covid-19 cases in India may increase the consumption demand & hence, prices moved up. As seen in the chart, the Oil is on the verge of breaching upper trend-line of ascending channel pattern & hence, further buying may be noticed in the commodity.

AUS200 is trading at 7068, 0.18% up since Monday. The Asian shares surges up on Tuesday as investors remains cautious ahead of FOMC Meeting Minutes wherein an outlook towards interest rate can be stated. Besides this, the AUS200 gained momentum due to rising housing consumption demand of the commodities in the midst of global recovery since Australia is one of the major commodities-exporting countries. Earlier, the soft U.S NFP data & diminishing USD makes the equity markets stronger. The result of country’s employment data will remain in focus later in this week. As seen in the chart, the reversed upside after forming double bottoms & hence, buying on lower levels may be initiated in AUS200 on short term basis with the possible target of 7120.