NZD/USD is trading at 0.71663, 0.09% down since Friday. The Kiwi seems to be trading sideways since last two sessions amid global cues. On Monday, the New Zealand’s Retail Sales grew by 2.5% against the expected figure of 1.8% & Core Retail  Sales increased by 3.2% from 2.9% in the previous month.  Last week, the strong USD post FOMC Meeting Minutes which showed the chances of tapering talks turned out to be negative for other basket of currencies. The RBNZ is to hold its meeting on Wednesday which will be closely monitored. As seen in the chart, the pair is strongly trading near cluster support of sideways channel pattern & also, the RSI line is hovering near mid-level 50. The cautious trading may be suggested for the day in NZD/USD.

Natural gas is trading at $2.962, 0.23% up since previous close. The Natural gas prices slid down post release of Energy Information Administration (EIA) report which shows a rise in Natural gas inventory level by 71B against the expected rise of 60B. This shows more supplies against the steady demand & hence, commodity became less expensive. However, the long term momentum remains bullish amid global recovery & rising commodities prices. The changing climatic conditions in U.S & European markets make the Natural gas prices vulnerable. As seen in the chart, the W-pattern seems to be forming in the commodity which may result into chances of testing the level of ‘e’ & hence, buying on dips may be recommended further.

FRA40 is trading at 6362, 0.29% up since previous day close. The European markets are shut for the day on an account of Whit Monday; although may open on positive note in the next session amid strong momentum in other global peers. Last week, the French Flash Manufacturing PMI rose to 59.2 from 58.9 in the previous month & the Flash Services PMI climbed to 56.6 against the expectation 53.0. Earlier, the Fed Meeting Minutes showed the chances of QE tapering down talks in the near term which led a selling bias in indices. As seen in the chart, the index seems to be taking a support of lower trend-line of bullish channel pattern & also, the RSI line is trading slightly above the mid-level 50. Further buying may be suggested in FRA40 for the day.