NZD/USD is trading at 0.62160, 0.03% down since previous day close. The slight profit-booking can be seen in NZD/USD on Monday as traders waits for the U.S Fed Chair Jerome Powell testifying speech which is due on Wednesday. An impending decision over Chinese stimulus package & eyeing PBoC’s Prime Lending Rate policy decision due on Tuesday will remain vital for Kiwi since China & New Zealand are the trading partners. In New Zealand, the Business NZ Services Index rose to 53.3 from 50.1 in the previous month which may turn positive for the pair in later half of the session. As seen in the chart, the pair is trading within the long-term Moving Average (100) & (200) which indicates a sideways momentum. However, slight buying bias may be recommended for the day in NZD/USD.

UK100 is trading at 7620.3, 0.13% down since previous close. The UK100 slid down on Monday as traders remain cautious over upcoming Fed Chair Powell speech which is to be held on Wednesday & Chinese Prime Lending Rate (PLR) decision due on Tuesday. Besides this, the outcome of Bank of England (BoE) is to hold its meeting on Thursday with an expectation of 25bps rate hike. Last week, the indices surged up post FOMC meeting wh         erein although an interest rate was left unchanged as expected yet the Fed Chair Jerome Powell hinted for two smaller rate hikes later in this year in order to tame down the inflation rate which is at 4.1% currently. As seen in the chart, the index is trading near the Fibo level 50.0 which acts as major support level & hence, slight buying may be suggested.

Gold is trading at $1955.86, 0.02% down since previous close. An upward momentum in Gold showed a slight pause on Monday ahead of the U.S FOMC Powell testifying speech on Wednesday. Upcoming PBoC’s meet with a focus on changes in Prime Lending Rate (PLR) monetary decision & stimulus package offering made the Gold vulnerable since China is a major consumer of metals. Last week, the BoJ’s stance of leaving interest rate unchanged, ECB’s move of raising interest rate by 25bps while the Fed’s hint for two more rate hikes in this year made Gold to trade in a mixed momentum. As seen in the chart, the Gold is firmly taking a support level of cluster lows & hence, the cautious trading may be recommended.