NZD/USD is trading at 0.61958, 0.18% up since previous day close. The Kiwi strengthened is early trade on Monday against the soft USD after U.S administration steps in with emergency measures to stabilize the SVB Financial Group issue & allowing depositors to access their money with SVB from today. On data front, the New Zealand’s Business NZ Services Index rose to 55.8 from 54.7 in the previous month & the FPI rate grew by just 1.5% versus 1.7% previously. These cushioned the pair NZD/USD to some extent. The focus will be on the result of country’s Current Account & GDP data due to be released later in this week. As seen in the chart, the pair is hovering near Fibo level 38.2 which acts as support area & hence, buying on corrective dips may be recommended for the day in NZD/USD.

US30 is trading at 32324.3, 0.03% up since previous close. The mild recovery can be seen in US markets in early trade on Monday after witnessing a sharp sell-off in last week. The U.S administration stepped in with emergency measures to curtail down aftermath of Silicon Valley Bank (SVB) Financial Group crisis & permitted its depositors to access their money from today onwards. Also, the Fed announced to make additional funding in SVB through a new Bank Term Funding Program which added bullishness in US30. This can reduce the chances of aggressive rate hike in next FOMC meet which may boost up the market sentiments. Buying bias may be suggested in US30 since the index is trading near Fibo level 38.2 & 50.0. An either side breakout may be noticed for the day.

WTI Oil is trading at $76.93, 0.08% down since previous day close. The Oil prices slightly lowered down in early trade on Monday amid mixed chances of aggressive rate hikes in next Fed Meeting. Globally, the soft USD after U.S introduces emergency measures to control aftermath of SVB Group crisis may turn out to be positive for Oil in later half of the session. Last week, the Oil prices saw some sort on up-moves as China posted better than expected Trade Balance & inflation data which mat retain the consumption demand of Oil since China is a top Oil consuming country. As seen in the chart, the Oil is firmly trading within the range of $80 & $72 which forms a sideways channel. Slight selling may be noticed for the day.