NZD/USD is trading at 0.61674, 0.22% down since previous day close. The Kiwi depreciated heavily post RBNZ meet wherein the interest rate was hiked by 25bps as expected how-so-ever it hinted for a pause in monetary tightening process for near term in order to review the inflationary scenario. Also, the New Zealand posted weaker than expected Retail Sales data which fell by 1.4% against the expectation of 0.2%; further weakening the pair NZD/USD. Globally, ongoing debt ceiling talks between U.S President Biden & House Speaker McCarthy failed to show any conclusion which remained suppressive for major currencies. The cautious trading may be recommended for the day in NZD/USD.

US100 is trading at 13749, 0.06% down since previous day close. The non-concluding U.S debt ceiling talks amongst top U.S officials & worsening U.S-China trade issue made the U.S markets weaker. Besides this, the tension looms over interest rate hike decision in Fed’s next meeting amid higher inflation & employment rate. On data front, the Flash Manufacturing PMI fell to 48.5 from 50.2 in the previous month while the Flash Services PMI rose to 55.1 from 53.6 previously. The focus will be U.S Treasury Secretary Janet Yellen speech which will be held today. As seen in the chart, the although the US100 slid down yet it seems to be taking a support of MA (10) & id sustained the current level, a reversal may be expected on daily basis.

Gold is trading at $1978.01, 0.11% up since previous close. The losses in Gold turned into gains on Tuesday despite stronger USD as heavy trading volume occurred at major support levels of $1950. Ongoing U.S debt ceiling negotiations between U.S President Biden & House Speaker McCarthy failed to conclude a deal which weighs down the precious metals earlier. Also, the weaker Chinese economic data made the gold prices weaker since China is a major consumer of metals. Uncertain future FOMC monetary decision will remain vital for Gold. As seen in chart, the Gold slid down to previous lows; however, sustained & showed a reversal phase thereon. Buying on dips may be recommended for the day on Gold.