AUD/USD is trading at 0.77203, 0.31% up since Friday. The mixed trading can be seen in Aussie post release of AIG Manufacturing Index which climbed to 61.7 from 59.9 in the previous month. On contrary, the firmer USD amid global cues & rising inflation pressurizes the other basket of currencies. The shut-down of Chinese market amid national holiday may restrict the momentum in AUD/USD since China & Australia are the trading partners. The RBA is to hold its meeting on Tuesday focusing on interest rate decision which will determine the trend in AUD/USD.  As seen in the chart, the pair is trading near MA (20) indicating the chances of reversal if sustained & a breakdown if breached.

Silver is trading at $25.996, 0.07% up since previous close. The  precious metals seems to be trading flat to higher side against the firm USD amid suspicious pace in global recovery since Covid-19 cases are resurging at an alarming rate in few countries. Last week, the U.S Fed adopted accommodative monetary policy as expected & also, did not taper the bond purchases program which largely subdued the USD & cushioned the global commodities. The better than expected Chinese PMI figures further supports the Silver prices since China is a major consumer of metals. As seen in the chart, the Silver is hovering near MA (10) & MA (20() which strongly supports the upside momentum on short term basis.

US30 is trading at 33893, 0.15% up since previous day close. The range bound trading can be seen in US30 in the midst of steady global sentiments over rising inflation fears & pace of global recovery since it has been widely affected by mounting Covid-19 cases in India. Last week, the index moved on higher side following the U.S Fed’s failure of not hinting towards bond purchase tapering plan. The weaker than expected U.S GDP & other key economic data capped the gains in US30 to some extent. The focus will remain on upcoming U.S NFP data which is to be issued later in the week. As seen in the chart, the US30 maintained to trade in bullish channel pattern; still is trading near MA (10) & is forming a consolidation phase.  Wait & watch strategy may be recommended on daily basis.