USD/CHF is trading at 0.89692, 0.10% down since Wednesday. The cautious approach towards tapering down talks as hinted by few FOMC officials remains crucial for other basket of currencies. Earlier, the steady USD & falling bond yields makes USD/CHF stronger. The Swiss nations’ Trade Balance data showed a fall in surplus figure by 3.29B lower than expectation 4.85B which may remain slightly suppressing factor for USD/CHF. The result of Retail Sales & GDP data will remain in the focus for the next week. As seen in the daily chart, the USD/CHF is trading below the MA (10) & MA (20) & the RSI line is hovering near lower level of 30 indicating the chances of make or break situation.

Soybean is trading at $1497.28, 0.36% down since the previous close. The agri-commodities showed a profit-booking phase after rallying to recent highs in the last month amid mixed US Dollar Index. Uncertainty towards tapering down QE talks by FOMC with a concern over global recovery & rising inflation slightly dragged down the Soybean prices & steadied the USD. The change in climatic conditions in Argentina resulted into more production & supplies which made the commodity less expensive. As seen in the chart, the Fibonacci Retracement tool shows the contraction till Fibo level 61.8 which acts as a major support level. Slight selling bias may be noticed for the day in Soybean.

UK100 is trading at 7022, 0.12% up since Wednesday. The mixed trading can be seen in global indices amid uncertain outlook towards tapering down talks amongst the Fed officials keeping in view the rising inflation rate. Earlier in a week, the FOMC vice Chair Richard Clarida hinted a dovish approach towards interest rate hike in the near future which pushed up the UK100. The U.K Public Sector Net Borrowing rose to 31.0B from 25.5B in the previous week which further cushioned the UK100. The progressive Covid vaccination drive in the country remains supportive for index on long run. As seen in the chart, the index is taking a support of MA (10) & MA (20) & is trading within a bullish channel pattern. Buying on lower side may be recommended in UK100 on an intraday basis.