NZD/USD is trading at 0.60975, 0.16% up since previous day close. The USD weakens to three-month lows on Friday after U.S Senate passes the debt ceiling bill; impending to be signed by U.S President Joe Biden before deadline of June 05. This turned out to be supportive for other basket of currencies. On data front, the Overseas Trade Index fell by 1.5% same as expected which failed to dragged down the pair NZD/USD. Improved Chinese manufacturing figures & upcoming U.S NFP data release event will remain vital for currencies. As seen in the chart, the pair moved on higher side after forming the lower base level. This can be considered as a pullback & the pair is hovering near Fibo level 23.6. This indicates an upside if breached the level otherwise a reversal can be seen.

INDIA50 is trading at 18618.3, 0.16% up since previous close. The SGX Nifty traded on higher side since last two sessions amid positive global as well regional cues. Globally, the U.S Senate passes a debt ceiling bill to avert $31.4 trillion worth of debt repayment till Januray,2025; yet the bill is impending to be signed by U.S President Joe Biden before June 05 deadline. Also, the chances of rate hike pause in FOMC’s June meeting as hinted by few Fed officials turned out to be positive for INDIA50. Regionally, the better-than-expected India’s GDP & PMI figures shows improvement in economic conditions & hence, boosted up the INDIA50. As seen in the chart, the index is consistently trading above the short-term MA (10) & above the Fibo level 61.8. Buying on lower side is suggested further.

WTI Oil is trading at $70.50, 0.11% up since previous day close. The Oil prices inches higher on Friday against the soft USD ahead of the outcome of U.S NFP data due today. Also, the progressive debt ceiling deal closure & chances of holding down interest rate in next Fed meeting led selling pressure in USD & boosted up dollar-denominated commodity like WTI Oil. On contrary, the U.S EIA report showed a build-up in Oil inventory level by 4.5mbpd against the expected fall of 1.4 mbpd. The focus will be on the forthcoming OPEC+ meeting which is to be held on June 04 at Vienna. As seen in the chart, the Oil tested the resistance level & is expected to show a breakout on either side.