NZD/USD is trading at 0.59926, 0.16% down since previous day close. The downward momentum can be seen in Kiwi after global sentiments weakened post Chinese PBoC rate-cut move. The bank cut down its Prime Lending Rates lower than expectation which subdued the Yuan & antipodean currencies as well since China & New Zealand are the trading partners. Besides this, the stronger USD as FOMC Minutes hinted more hawkish monetary policy in future meetings turned out to be weaker for other basket of currencies. The country’s Trade Balance showed a fall in surplus by 1107M which again pushed down the pair NZD/USD. As seen in the chart, the pair is trading near lower trend-line of channel pattern & hence, slight selling may be recommended for the day.

CHNIND is trading at 6059, 0.12% down since previous day close. The Chinese stocks tumbled the mots on Monday after PBoC cut-down its 1-year Prime Lending Rate by 10bps & kept the 5-year Prime Lending Rate unchanged much lower than expectation of 15 bps cut for both the rates. This weakened the market sentiments & led the selling pressure in overall market instruments. However, ongoing stimulus talks to be offered to Beijing remains vital for CHNIND. On global front, uncertain FOMC future monetary stance & upcoming U.S Jackson Hole Symposium speech which is to be held later in this week will be closely monitored. As seen in the chart, the index is trading at previous lows which acts as a major support & hence, sideways trading may be recommended further.

WTI Oil is trading at $81.20, 0.11% up since previous day close. The Oil prices edges on higher side after Saudi Arabia & Russia are to cut-down their oil supplies till end-December; being largest oil producing countries. The Chinese PBoC cut-down its key rate lower than expectation; signaling for slow-down in economic growth which may affect the Oil consumption demand. The U.S Baker Hughes report showed a mild fall in Oil rig counts by 5 leading to 520 from 525 in the previous week. Upcoming U.S Jackson Hole Symposium speech will remain vital for commodities. As seen in the chart, the Oil seems to be reversing upside form short-term Moving Averages & hence, slight buying may be recommended for the day.