NZD/USD is trading at 0.63469, 0.29% up since previous day close. The New Zealand Kiwi showed a sharp rally in early trade on Wednesday after the Reserve Bank of New Zealand (RBNZ) surprisingly hiked interest rate by 50bps higher than expected hike of 25bps; leading to 14-month highs of 5.25% from 4.75% earlier. The move has been taken in order to tame down rising inflation rate. Besides this, the positive global sentiments amid recovery in U.S banking crisis led buying bias in major currencies. The result of ANZ Commodity Prices will remain into focus for the day. As seen in chart, the pair showed a strong breakout above the MA (100) & also, crossed over Fibo level 23.6 which shows the chances of buying bias on lower levels.

AUS200 is trading at 7252.3, 0.03% up since previous close. The Asian shares moved higher following an upside in global markets amid global as well regional cues. On global front, the Silicon Valley Bank (SVB) is said to be taken over by First Citizen Bank which improved the ruction situation in banking crisis; emerging bullishness in indices. Regionally, the Reserve Bank of Australia (RBA) maintained its monetary policy & kept its interest rate unchanged at 3.60% same as previous reading. This signals for improvement in inflationary pressure in an economy. As seen in the chart, the INDIA50 is trading above the MA (100) which clearly indicates the chances of buying bias on daily basis. A strong breakout can be expected further if breaches the MA (200).

WTI Oil is trading at $81.02, 0.36% up since previous day close. The Oil prices rallied above $80 level; surpassing one-month highs, after OPEC+ decided to reduce down its oil output & supplies levels in its latest meeting. On Tuesday, the American Petroleum Institute (API) released its Oil stocks level by 4.36 mbpd against the expected fall of 1.80 mbpd which again pushed up the prices. The focus will be on U.S EIA report which will be issued today; focusing on the changes in Oil inventory level as compared to last week.  The soft USD makes dollar denominated commodity like Crude Oil more expensive. As seen in the chart, the Oil is hovering near MA (200) which indicates make-or-break situation on short term basis.