USD/JPY is trading at 109.848, 0.13% down since Wednesday. The firmer USD amid chances of sooner tapering talks than expected remained slightly negative for other basket of currencies. In Japan, the Tokyo Core CPI fell by 0.2% almost same as expectation & the Unemployment Rate rose to 2.8% from 2.6% in the previous month. This led to selling in the pair USD/JPY. Besides this, the news spurred in that U.S President Joe Biden is to propose a multi-trillion dollar stimulus package worth $6 trillion for the year 2022. As seen in the chart, the pair is consistently hovering near major resistance level of previous highs & the RSI line seems to be taking a support of mid-level 50. Slight selling may be seen in JPY against the USD for the day.

Coffee is trading at $156.28, 0.28% up since previous close. The Coffee seems to be trading on higher side; forming higher highs amid strong consumption demand of commodities on account of lockdown phases in few countries. The mixed USD due to uncertainty towards tapering down QE talks by FOMC strengthened the Brazilian Real (BRL) currency & hence, made the commodity more expensive. The change in weather conditions in Brazil resulted into lesser production & supplies which further pushed up the prices. As seen in the chart, the Coffee is trading at multi-year highs & also, the RSI line is hovering above the mid-level 50. Buying on corrective dips may be recommended further in Coffee.

GER30 is trading at 15475.6, 0.13% up since previous day close. The flat trading can be seen in European indices as market is looking forward to the U.S President Joe Biden’s proposal of stimulus package worth $6 trillion for the year 2022. Earlier in week, the Fed vice Chair hinted a dovish stance over interest rate hike which gave a sigh of relief over monetary tension amongst the investors & indices surges up. The German IFO Business Climate rose to 99.2 from 96.6 in the previous month; hinting a progress in economic conditions which further cushioned the GER30. As seen in the chart, the index is constantly trading above the short term MA (10) & MA (20(; struggling to breakdown. Slight buying may be seen for the day in GER30.