WTI Oil is trading at $74.58, 0.05% up since previous day close. The Oil prices slightly recovered on Friday against the soft USD ahead of the U.S Non-farm payroll data release event due today. Also, the Saudi Arabia cuts down the Oil selling prices to Asia & Europe which cushioned the prices. On Thursday, the U.S Energy Information Administration report showed a mild change in Oil inventory level by 1.7 mbpd almost same as expected. The global recessionary pressure & rising Covid-19 cases in China may affect the consumption demand of Oil since China is a top Oil consuming country. Selling on rallies may be recommended for the day in WTI Oil since it is trading within the bearish channel pattern.

USD/CHF is trading at 0.93575, 0.02% up since previous day close. The Swiss Franc seems to be trading on slightly positive side against the steady USD ahead of the release of U.S NFP Payroll data due today. Also, the U.S FOMC Minutes hinted for chances of smaller interest rate hikes in the near term which cushioned the currencies. Globally, the rising concern over Chinese Covid-19 easing down restrictions policy made the currencies more vulnerable. The Swiss nations’ CPI rate fell by 0.2% weaker than expectation 0.1% while the focus will be country’s Retail Sales & Foreign Currency Reserves data today. As seen in the chart, the pair is trading near the major support area of previous lows which indicates a breakdown if breached & hence, buying in CHF may be recommended against USD.

US100 is trading at 10873.3, 0.01% up since previous close. The flat trading can be seen in U.S markets in early trade on Friday ahead of the release of Non-farm Payroll data which will show the changes in country’s labor sector & hence, may contribute in upcoming Fed’s monetary decisions. However, the US100 witnessed a range bound trading post release of FOMC Minutes which hinted for chances of smaller rate hikes in the near future. On contrary, the doubtful Chinese Covid restrictions easing down policy makes the traders & investors more cautious. The result of U.S ISM Services PMI data will be closely monitored as well. As seen in the chart, the index is trading near support level of MA (100) which strongly shows the chances of buying bias on short term basis.