NZD/USD is trading at 0.69713, 0.05% up since Monday. The Kiwi seems to be trading flat to higher side on Tuesday against the steady USD as market waits for the outcome of FOMC Powell speech which is to be issued today. However, the pair lost momentum in the last week after Fed hinted for two interest rate hikes in the year 2023 in order to control rising inflation fear. On data front, the country’s Westpac Consumer Sentiment climbed to 107.1 from 105.2 in the previous month which again cushioned the pair NZD/USD. As seen in the chart, the pair formed a double support level near 0.69200 & hence, buying may be continued in NZD with a resistance of MA (10) i.e. 0.70200 on daily basis.

WTI Oil is trading at $72.56, 0.34% up since Monday. The Oil prices continued to trade on higher side as optimism over global recovery increases & hence, this may raise consumption demand of Oil. Also, the clearance over Iranian nuclear deal remains suspicious curtaining the output level from the country which reduces supplies & hence, made the oil more expensive. The U.S Baker Hughes report shows a rise in Oil rig counts by 8 leading to 373 from 365 in the previous week. The result of U.S API report will remain into focus for the day. As seen in the chart, the Oil is trading near major resistance of multi-year highs & hence, buying on corrective dips may be recommended for the day.

GER30 is trading at 15529, 0.02% up since Monday. The global shares seem to be trading on higher side as compared to last two trading sessions as market remains optimistic towards global recovery from pandemic period. Besides this, the progressive M&A deals in European regions & upcoming Fed Powell’s speech remains supportive for indices. Last week, the hawkish FOMC stance over interest rate hikes & tapering down talks soars down the major equity markets. The traders will be looking forward to the result of Manufacturing PMI figures on Wednesday. As seen in the chart, the index is strongly trading near the lower trend-line of bullish channel pattern & hence, chances of buying remains on higher side for the day.