NZD/USD is trading at 0.60902, 0.16% down since previous day close. The steady USD ahead of the FOMC meeting with a focus on monetary policy changes made the other currencies to trade weaker. The strong USD post release of U.S CPI data which grew by 0.3% against 0.2% in the previous remained suppressive for Kiwi. On regional front, the New Zealand’s Current Account deficit fell by 11.4B lower than expected fall of 12.15 while the FPI rate dropped by 0.2% from -0.9% in the previous month. The result of GDP data will remain in focus on Thursday. As seen in the chart, the pair NZD/USD is witnessing a correction phase & is heading towards Fibo level 38.2 & MA (200) which acts as support levels. Slight selling bias may be recommended in NZD/USD on an intraday basis.

Gold is trading at $1980  .44, 0.14% down since previous close. The            steady ahead of the FOMC meeting which will focus on interest rate changes; due today made the USD stronger & precious metals weaker. Last week, the better-than-expected U.S Non-farm Payroll data turned out to be supportive for USD & weigh down the gold prices. Last week, the ECB hinted for a rate cut in second quarter of next year which pressurized the EURO & Gold & the mixed Chinese economic outlook remains vital for gold prices since China is a top consumer of metals.  As seen in the chart, the gold is hovering near higher levels which acts as a major resistance level & hence, make-or-break situation can be recommended further.

US100 is trading at 16389.3, 0.27% up since previous close. An upside seems to be extending in U.S markets unlike other equity markets; ahead of the FOMC meeting due to today which will focus on monetary policy changes. The U.S CPI rate grew by 0.3% as expected which failed to create any negative impact on US100. Last week, the U.S issued robust Non-farm Payroll data which slightly cushioned the index US100. Unsteady Chinese economic development & ongoing tension between Israel & Hamas remain vital for equity markets. The result of PPI data will remain in focus today. As seen in the chart, although US100 retraces down yet it seems to be taking a support of MA (10) & MA (20) which acts as a major support level. Buying on lower levels may be recommended further.