USD/CHF is trading at 0.98012, 0.13% down since previous day close. The selling pressure continued to be seen in CHF against the mixed USD ahead of the outcome of U.S Non-farm Payroll data. Earlier, the U.S Chair Powell hinted for more hawkish stance over monetary tightening in order to tame down inflation rate in Jackson Hole Symposium speech held last weekend; made other currencies to trade on lower side. The Swiss nations’ KOF Economic Barometer dropped to 86.5 from 90.5 in the previous month while the result of CPI & Retail Sales data will remain in focus for the day. As seen in the chart, the pair USD/CHF is trading above the short term Moving Averages which indicates further chances of selling bias in CHF against the USD.

Coffee is trading at $239.06, 0.03% down since previous day close. The corrective momentum can be seen in Coffee prices since last two trading sessions after rallying to recent high levels of $240 earlier. Earlier, the strong USD post U.S Jackson Hole Symposium speech which showed the chances of interest rate hike by 75bps in the near future in order to control the rising inflation in an economy weakened the Brazilian Real (BRL) currency & Coffee prices too. The outcome of U.S NFP figures will remain vital on Friday. As seen in the chart, the commodity crossed over the channel pattern & is, now trading near the major resistance of previous highs. Wait & watch strategy may be recommended for the day.

FRA40 is trading at 6099.8, 0.20% down since previous day close. The major shares retreated post release of U.S ADP Employment data which showed poor result on Wednesday. However, the traders’ expectation of interest rate hike in ECB meet strengthened EURO & dragged down the USD. Earlier, the global shares traded on lower side post Jackson Hole Symposium speech wherein the Chair Powell hinted for more rate hike stance despite economic pain in order to stabilize the inflationary pressure. The result of French Final Manufacturing PMI data will be closely monitored today.  As seen in the chart, the index corrected down till Fibo level 61.8 which acts as a major support level & hence, the cautious trading may be seen for the day.