NZD/USD is trading at 0.62329, 0.06% down since previous day close. The antipodean currencies weakened in early trade on Monday as tension between U.S & China escalates over Taiwan; for New Zealand & China are the major trading partners. Last week, the pair NZD/USD traded at higher levels after the RBNZ surprisingly hiked interest rate by 50bps higher than expected hike of 25bps; leading to 14-month highs of 5.25% from 4.75%; in order to tame down rising inflation rate. Globally, the better U.S jobs data proved to be positive for USD & negative for other currencies to some extent. As seen in chart, the pair is trading within the two Fibo levels i.e., 23.6 & 38.2 which indicates the chances of either side breakout on short to long term basis.

JAP225 is trading at 27633.3, 0.03% down since previous close. The Japanese shares slid down in early trade on Monday after U.S issued better NFP figures which resulted into chances of higher rate hike in upcoming meetings. Besides this, the growing tension between U.S & China & recession fear looms in U.S which slightly subdued the global markets. Last week, the equities moved on higher side after the U.S SVB is said to be taken over by First Citizen Bank which can improve the ruction situation in banking sector. Regionally, the Reserve Bank of Australia (RBA) maintained its monetary policy & kept its interest rate unchanged at 3.60% same as previous reading. Wait & watch strategy may be adopted for the day in JAP225 since the index is trading within the consolidation phase.

Silver is trading at $24.759, 0.06% down since previous close. The profit-booking can be seen in precious metals since last session after surging prices up to recent highs. The strong USD after U.S issued better than expected Non-farm Payroll figures which raise the chances of higher rate hikes in Fed’s next meeting; led selling pressure in Gold & Silver. The growing tension between U.S & China over Taiwan further affects the prices since China is a major consumer of metals. The trading in commodities may seen limited today on account of Easter Monday. The Fibonacci Retracement shows the chances of correction till Fibo level 23.6 which indicates slight selling pressure on daily basis.