NZD/USD is trading at 0.60727, 0.02% down since previous day close. The flat to lower side trading can be seen in Kiwi amid mixed global cues. The New Zealand’s Inflation Expectations rose to 2.83% from 2.79% which turned weaker for NZD/USD. Majorly, the result of U.S inflation figures which are to be issued on Thursday will determine the short-term trend in major currencies. Last week, the soft Non-farm Payroll data weakened the USD & slightly cushioned the other basket of currencies. The result of Business NZ Manufacturing Index & FPI data will remain in focus. As seen in the chart, the pair is trading near previous lows & acts as a major support level. Wait & watch strategy may be adopted for the day.

GER30 is trading at 15928, 0.02% down since previous day close. The sideways trading can be seen in European shares as U.S markets weakens amid Moody’s downgrading move over country’s banking system. Also, the traders remain cautious ahead of the result of U.S CPI data release event which is to be held on Thursday. Last week, the Fitch’s move of downgrading U.S economy from AAA to AA+; with concern over rising fiscal deficit led the selling pressure in major indices. The German Final CPI remained steady at 0.3% as expected. As seen in the chart, the index slid down to long-term MA (100) which acts as a major support level. Either side breakout can be seen in GER30 with the chances of breakdown if breached & a reversal if sustained the levels.

Silver is trading at $22.893, 0.01% up since previous close. The Silver seems to be trading in a tight range ahead of the outcome of U.S CPI data which is due on Thursday. The Moody cut down the credit rating for major U.S banks which further weigh down the commodities. Earlier, the Fitch downgraded the U.S economy from AAA to AA+ on account of economic slowdown which dragged down the precious metals. Besides this, optimism over Chinese stimulus aid & uncertain FOMC monetary decision will remain vital for silver prices. As seen in the chart, the Silver down to lower levels & is on the verge of testing the Fibo level 61.8. Slight selling pressure may be seen for the day in silver.