NZD/USD is trading at 0.59080, 0.06% down since previous day close. The Kiwi weakened against the strong USD after U.S Fed left an interest rate unchanged at 5.50% range as expected; however, hinted for one more rate hike in this year followed by two more in the year 2024. This hawkish stance led selling pressure in currencies & equity markets. The traders will be looking forward to the outcome of BoE & BoJ meets scheduled today & Friday respectively. In New Zealand, the CPI rate grew by 0.9% higher than expectation 0.4% & the Current Account deficit fell to 4.21B from 4.66B in the previous month. As seen in the chart, the pair is hovering near lower trend-line of channel & hence, the cautious trading may be recommended.

US100 is trading at 15094, 0.18% down since previous day close. The overall U.S markets plunges down in early trade on Thursday after U.S Fed showed hawkish stance over future rate hike in this year followed by two more hikes in the year 2024; leaving the rate steady at 5.50% range in its latest meeting. The traders will be eyeing the outcome of Bank of England (BoE) & Bank of Japan (BoJ) meeting in this week.   Other than this, the market sentiments improved over Chinese stimulus measures ECB’s hawkish move of raising interest rate by 25bps against the expectation of no-change. As seen in the chart, the index is trading near Fibo level 61.8 which acts as a major support level & hence, a breakdown can be expected if breaches the current level otherwise a reversal can be seen.

Gold is trading at $1928.44, 0.09% down since previous close. The Gold slid down from one-week’s high on Thursday against the strong USD & rising U.S treasury bond yield as U.S Fed hinted for one mor rate hike in this year & two more hikes in the year 2024 in order to control sticky inflation rate. Though the Fed left an interest rate steady at 5.50% as expected; still the overall Fed decision weakened the precious metals. Earlier in this week, the news spurred in over U.S government shutdown amid fiscal deficit concern & hence, pushed up safe haven instruments like gold & YEN. As seen in the chart, the Gold seems to be trading firmly within the short- & long-term Moving Averages & hence, sideways trading may be expected.