USD/JPY is trading at 132.771, 0.09% up since previous day close. The YEN slightly gained in early trade on Friday after USD weakens to some extent post U.S Final GDP & Jobless Claims data issued on Thursday. In Japan, the Prelim Industrial Production grew by 4.5% from -5.3% in the previous month & the Retail Sales increased by 6.6% against expectation 5.9%. Earlier, the stronger USD as the news spurred in that the SVB would be taken-over by its peer First Citizen Bank made the USD/JPY to trade on lower side. As seen in the chart, the pullback in the pair made it to test the Fibo level 50.0 which acts as resistance level. Buying in YEN may be recommended against the USD for the day.

CHNIND is trading at 7012.3, 0.09% up since previous close. The Chinese markets showed a positive momentum in early trade on Friday after few technology companies announced splitting up its operations in order to improve tech sector. On data front, the Chinese Manufacturing PMI rose to 51.9 & Non-Manufacturing PMI climbed to 58.2 against respective expectations of 51.6 & 55.0. Globally, the Silicon Valley Bank (SVB) is said to be taken over by First Citizen Bank which improved the ruction situation in banking crisis; adding on bullishness in indices. As seen in the chart, the CHNIND took a support of short term as well as long-term Moving Averages which clearly indicates the chances of buying bias on daily to medium term basis.

Gold is trading at $1978.14, 0.13% up since previous close. An upside in Gold resumes against the soft USD amid poor result of U.S Final GDP & Jobless Claims data in the previous session. Earlier, the prices slightly moved down as U.S First Citizen may take-over the SVB; easing down the banking crisis fear. However, the Gold tested $2000 mark as the ruction in U.S & European banking sector made the safe haven instruments more expensive. Recently, the Fed hiked an interest rate by 25bps leading to 5.00% from 4.75%; though hinting for more rate hikes in near future led buying pressure in commodities. Buying on corrective dips may be recommended in Gold as the reversal phase seems to be building up in the commodity.