USD/JPY is trading at 148.918, 0.19% down since previous day close. The YEN continued to show negative momentum on Tuesday amid rising U.S bond yields & strong US Dollar Index. Last week, the U.S Fed Powell hinted for one more rate hike in this year; although keeping an interest rate steady at 5.50% in its recent meeting. On regional front, the Bank of Japan (BoJ) left an interest rate steady at -0.10% while the traders were expecting an end to negative interest rate cycle. The Japan’s Flash Manufacturing PMI fell to 48.6 from 49.6 in previous month which further dragged down the USD/JPY. As seen in the chart, the pair is consistently trading above the short-term MA (10) & MA (20) & hence, further selling in YEN may be expected against the USD on daily basis.

US30 is trading at             34167, 0.09% down since previous day close. The flat to lower side trading can be seen in U.S markets as fear looms over chances of U.S government shutdown with the deadline of one week. Last week, the FOMC Powell hinted over future rate hike in this year followed by two more hikes in the year 2024; leaving the rate steady at 5.50% range in his latest meeting. This made the U.S markets weaker. The steady monetary policy at BoJ & BoE meetings further restricted the momentum in US100. The result of CB Consumer Confidence data will remain into focus for the day. As seen in the chart, the index is trading near previous lows & MA (200) which acts as a major support level & hence, a breakdown can be seen if breaches the current level otherwise a reversal can be seen.

WTI Oil is trading at $90.28, 0.09% down since previous day close. The Oil prices seems to be trading on lower side against the strong USD as they are inversely correlated. The negative effect emerging out of U.S Fed’s hawkish stance in near future; though keeping an interest rate steady at 5.50% range made the Oil prices to trade weaker. Last week, the Russia banned its fuel exports which may affect the supplies of Oil throughout the world since Russia is one of the major suppliers of Crude Oil.  & hence, made the prices to trade at higher levels. The supply cuts from Saudi Arabia & Russia will remain significant for the prices in long-run. Wait & watch strategy may be established for the day in WTI Oil.