NZD/USD is trading at 0.61370 , 0.04% up since previous day close. The Kiwi slightly surges up against the steady USD as traders waits for the result of U.S Advance GDP & Jobless Claims figures due to be released today. The New Zealand’s ANZ Business Confidence fell by 43.8 against the previous figure -43.4. This failed to create much impact on NZD/USD. Also, the ongoing corporate earnings season & upcoming Fed meet with an expectation of 25bps interest rate hike stance makes other currencies slightly positive. The country’s employment data will be released next week. As seen in the chart, the pair is trading near the Fibo level 38.2 & also, at MA (200). These acts as major support areas & hence, buying may be resumed if successfully sustained & reversed.

GER30 is trading at 15886.3, 0.02% up since previous close. The mild recovery can be seen in European shares; however, the traders remain cautious over upcoming FOMC meeting which is to be held in the month of May. Ongoing corporate earnings figures remains vital for major indices. Globally, the growing tension between U.S & China over Taiwan issues may remain significant for world indices. The German Ifo Business Climate rose to 93.6 from 93.3 in the previous month which will remained slightly positive for GER30. The result of German Prelim CPI data will remain in focus for the day. As seen in the chart, the index is trading near MA (10) & MA (20) which acts as major support level & Fibonacci Retracement shows upside momentum if breaches Fibo level 61.8.

WTI Oil is trading at $74.45, 0.23% down since previous day close. The Oil prices plunged down widely amid rising fear of recession hitting the U.S & slowing demand from China. This overshadowed the positive effect in prices resulting out from EIA & API estimates. The U.S EIA report showed a fall in Oil inventory levels by 5.1 mbpd against the expected fall of 1.3 mbpd. Also, the U.S API report showed a drop-down in Oil stocks level by 6.083 mbpd against expected fall of 1.667 mbpd. Upcoming FOMC meeting with a hope of 25bps rate hike stance will remain vital for Oil prices. As seen in the chart, the Oil slid down till Fibo level 61.8 which shows the either side breakout momentum.