NZD/USD is trading at 0.62128, 0.02% down since previous day close. The recovering USD as fear over U.S banking sector crisis eases down to some extent which led depreciation in other currencies. Earlier, the US Dollar softened after Fed hiked an expected 25bps interest rate leading to 5.00% from 4.75% & also, hinted for more rate hikes if required in near future which cushioned the pair NZD/USD. On data front, the Building Consents fell by 9.0% against the previous fall of 5.2% while the ANZ Business Confidence remained steady at -43.4. As seen in chart, the pair is consistently trading between the Fibo level 23.6 & 38.2 which indicates either side breakout if breached. Wait & watch strategy may be build-up for the day in NZD/USD.

INDIA50 is trading at 17188, 0.12% up since previous day close. The Asian shares parred up earlier losses & showed a positive momentum in early trade on Thursday. The selling bias was seen in the previous session as STT has been increased in F&O segment; also, the monthly expiry adds on the bearishness. However, an improved global sentiment as the First Citizen bank is about to take-over the SVB which eased down fear amongst the traders & investors led pullback in INDIA50. The market will be looking forward to the Reserve Bank of India (RBI) meeting which is to be held between April 3-April 6th. As seen in the chart, the index almost took a support at previous lows & a reversal may be expected if upside prevails further for the day.

WTI Oil is trading at $72.73, 0.09% down since previous day close. The selling pressure can be seen in Oil prices in early trade on Thursday; parring up previous day’s gains. The U.S Energy Information Administration (EIA) report showed a fall in Oil inventory levels by 7.5 mbpd against the expected rise of 1.8mbpd; also, the U.S API estimated revealed a drop-down in Oil stocks level by 6.07 mbpd. These widely pushed up the prices to $72. However, the resurging USD amid easing U.S banking crisis fear weakened dollar denominated commodity like Crude Oil on Thursday. As see in the chart, the Oil tested the Fibo level 61.8 which acts as major resistance & hence, slight selling pressure may be noticed for the day.