GBP/USD is trading at 1.28388, 0.02% up since previous day close. The mixed trading can be seen in Sterling Pound against the steady USD ahead of the meeting of major Central Banks, i.e., Bank of Japan (BoJ), European Central Bank (ECB) & FOMC which are to be held in this week; with a focus on change in monetary policy. On data front, the U. K’s Flash Manufacturing PMI fell to 45.0 from 46.5 & the Flash Services PMI contracted to 51.5 from 53.7 in the previous month. The result of CBI Industrial Order Expectations data will remain in focus for the day. As seen in the chart, the pair slid down to lower trend-line of channel pattern & may act as a major support level. If breached, a breakdown can be observed otherwise a reversal momentum can be witnessed.

GER30 is trading at           16251, 0.18% up since previous day close. The European shares seems to be trading on higher side as traders remain optimistic over upcoming ECB meet with a hope of 25bps rate hike stance. Besides this, the ongoing stimulus talks in China remains supportive for GER30. The German Flash Manufacturing PMI contracted to 38.8 from 40.6 & the Flash Services PMI fell to 52.0 from 54.1 in the previous month. These failed to create any negative impact on GER30. Forthcoming event of U.S FOMC & BoJ meet will remain in focus. As seen in the chart, the GER30 is firmly trading above the short-term Moving Averages of period 10 & 20 & hence, buying on corrective dips may be suggested for the day.

WTI Oil is trading at $78.96, 0.28% up since previous day close. The Oil prices surges up on Tuesday as optimism hovers over ongoing Chinese stimulus talks which may increase the consumption demand of Oil since China is a major consumer of Oil. The steady USD ahead of U.S Fed meeting which is to be concluded on Wednesday will remain vital for Oil prices. Last week, the U.S Baker Hughes report showed a fall in Oil rig counts by 7 leading to 530 from 537 in the last week. The result of U.S API & EIA reports will remain in focus for the week. Slight buying bias may be recommended for the day in WTI Oil since the commodity moved up from short-term MA (10) & MA (20).