USD/CAD is trading at 1.35137, 0.12% up since previous day close. The Canadian Dollar appreciated as Oil prices gained since they are directly correlated. Also, the soft USD ahead of the U.S Fed meeting with a hope of monetary policy remaining pat turned out to be positive for other major currencies. In Canada, the Wholesale Sales grew by 0.2% against -2.8% in the previous month while the Foreign Securities Purchases fell to 11.62B from 12.61B. The result of Housing Starts data will remain in focus for the day. Slight buying pressure may be established in CAD against the USD on an intraday basis since the pair seems to be sustaining the resistance level & a reversal phase may be observed.

US30 is trading at  34987, 0.07% up since previous day close. The cautious trading can be seen in U.S markets as traders wait for the result of FOMC meeting which is to be concluded on Wednesday with a hope of Fed remaining pat on interest rate outlook. The fear of U.S government shutdown amid higher fiscal deficit remains a key concern for US30. Other than this, the market sentiments improved over Chinese stimulus measures ECB’s hawkish move of raising interest rate by 25bps against the expectation of no-change. The outcome of NAHB Housing Market Index will remain in focus for the day. As seen in the chart, the index is trading above the long-term MA (100) & in a bullish channel which indicates the strong buying momentum on short to medium term.

Gold is trading at $1928.44, 0.23% up since previous close. The mixed USD ahead of the outcome of U.S FOMC meeting with a optimism over unchanged monetary policy led the buying momentum in gold & silver. Globally, the fear looms over U.S government shutdown amid fiscal deficit concern & hence, pushed up the safe haven instruments like gold & YEN. Last week, the progressive Chinese stimulus measures & the PBoC move of cutting down RRR rate by 25bps may boost the consumption demand of gold & hence, makes the commodity expensive; since China is a top consumer of metals. As seen in the chart, the commodity is expected to move upside with the next resistance of MA (100) on daily basis.