USD/CHF is trading at 0.94209, 0.02% down since previous day close. The range bound trading can be seen in CHF against the mixed USD over uncertain interest rate hike decision in Fed’s next meeting. On regional front, the Swiss nations’ Retail sales dropped by 2.2% as expected whereas the Manufacturing PMI contracted to 48.9 much below the expectation 50.4. These led some selling pressure on CHF in the previous session. The traders will be looking forward to the result of CPI data release event in next week. As seen in the chart, although the pair has formed a rounding bottom yet it is strongly trading at major resistance of previous highs. Wait & watch strategy may be adopted for the day in USD/CHF.

INDIA50 is trading at 17418.3, 0.09% up since previous close. The SGX Nifty showed a positive start for the month of March as buying pressure seems to be building up at lower levels. The fear over Gautam Adani rout seems to be easing down which boosted the traders sentiments & hence, cushioned the INDIA50. Besides this, the China posted better than expected PMI figures & few U.S companies revealed the better quarter earnings figures which further pushed up the global equity markets. The focus will be on U.S FOMC meeting which will showcase the changes in monetary policy decision. As seen in the chart, the INDIA50 seems to be taking a support of MA (200). If sustained, a strong reversal can be noticed & hence, buying bias may be recommended further.

WTI Oil is trading at $77.78, 0.06% up since previous day close. The Oil prices edges on higher side in early trade on Thursday post release of U.S Energy Information Administration (EIA) report which showed a rise in oil inventories by 1.2 mbpd lower against the previous figure of 7.6 mbpd. This indicates lower storage & supplies & hence, pushed up the prices. On Wednesday, the China issued its better PMI figures which turned positive for Oil prices since China is a major consumer of Oil. The focus will be on the result of U.S Baker Hughes report which will be issued on Friday. As seen in the chart, the Oil is trading within the consolidation phase which indicates make or break momentum on short to medium term basis.