AUD/USD is trading at 0.69183, 0.12% up since previous day close. An Aussie rallied on Monday against the soft USD as traders hope for an interest rate hike by jus 25 or 50 bps in the next FOMC meeting amid better U.S employment data & improving inflationary pressure. On data front, the Australia’s Building Approvals fell by 9.0% much weaker than previous figure of -5.6%. This failed to create any negative impact on Aussie. Besides this, the focus will be country’s CPI data release on Wednesday. Buying bias may be suggested in the pair AUD/USD on short to medium term basis since the pair is trading above the major Fibo level 61.8 which acted as resistance zone.

Gold is trading at $1877.24, 0.32% up since previous close. A sharp rally can be seen in Gold on Monday as sentiments boosted on chances of easing down Chinese Covid restrictions since China is a major consumer of metals. Also, the better than expected U.S Non-farm Payroll data contributes to the chances of smaller interest rate hikes in the FOMC’s next meeting which further suppresses the USD & cushions the Gold. The focus will be on U.S CPI data release event which is to be held on Thursday. As seen in the chart, the Gold successfully crossed over the MA (100) & also, surpasses the major resistance level. Buying on corrective dips may be seen for the day in Gold.

CHNIND is trading at 7287.8, 0.10% up since previous close. The Chinese markets are edging on higher side on Monday after restrictions & lockdowns in China seems to be easing down; reviving the economic conditions. Globally, the positive sentiments over chances of smaller interest rate hikes in coming FOMC meetings amid stronger U.S NFP figures led a strong buying bias in global markets. The Chinese Caixin Services PMI climbed to 48.0 from 46.7 in the previous month which widely cushioned the index CHNIND whereas the focus will be on country’s inflation data release due this week. As seen in the chart, the CHNIND almost crossed over the major resistance of upper trend-line of channel pattern & hence, buying on lower side may be recommended for the day.