USD/JPY is trading at 128.551, 0.02% down since previous day close. The YEN surged up sharply on Thursday post release of FOMC meeting which hiked an interest rate by 25bps as expected & hinted for a cool down in inflationary pressure until now. The Japan’s Monetary Base fell by 3.8% weaker than expectation 3.2% while the Manufacturing PMI remained steady at 48.9 same as previous figure. Besides this, improving Chinese economic conditions & progressive Covid-19 situation turned positive for USD/JPY since China & Japan are trading partners. The outcome of U.S NFP data will remain vital for safe haven instruments. As seen in the chart, the pair is hovering near major Fibo level 61.8 & hence, slight buying may be expected in YEN against USD on daily basis.

INDIA50 is trading at 17587.8, 0.06% down since previous day close. The SGX Nifty showed a mild weakness on Thursday despite bullish momentum in other global peers. Majorly, ongoing rout over major industrialist Gautam Adani & some sort of disappointing Union Budget outcome led sharp selling pressure in INDIA50. Today, being F&O expiry session led more selling bias in INDIA50. Globally, the FOMC hiked an interest rate by 25bps as expected but hinted for aggressive hikes in future if required to lower down the inflationary pressure. This may remain bullish for INDIA50 later on. The market will be looking forward to the result of RBI meeting which is to be held today. The cautious trading may be recommended for the day in INDIA50.

WTI Oil is trading at $77.03, 0.16% down since previous day close. The Oil prices slid down on Thursday post release of U.S EIA report which showed a build-up in Oil inventory levels by 4.1 mbpd against the expected fall of 1.0 mbpd. On Tuesday, the U.S American Petroleum Institute (API) report showed a rise in Oil stocks level by 6.33 mbpd against the expected fall of 1.00 mbpd. Earlier, the prices as tension emerges in Middle-east countries following a drone attack in Iran which can hamper the supplies. The mixed sentiment in Chinese markets creates selling pressure in Oil prices. As seen in the chart, the Oil slid down from upper trend-line of channel pattern & so, slight selling bias may be seen for the day.