AUD/USD is trading at 0.69263, 0.06% down since previous day close. The strong USD post release of upbeat U.S Non-farm Payroll data last Friday showed the higher chances of rate hike stance in the next FOMC meetings. On data front, the MI Inflation Gauge grew by 0.9% from 0.2% in the previous month & the Retail Sales remained steady at -3.9% same as expected figure. The improving Covid-19 situation turns up bullish for antipodean currencies since Australia & China are the trading partners. The RBA is to hold its meeting on Tuesday which will be closely monitored. Slight selling pressure may be noticed on an intraday basis in AUD/USD since the pair started correcting down from resistance level.

GER30 is trading at 15408.8, 0.09% up since previous day close. The European shares saw some sort of selling pressure on Monday after U.S issued stronger Non-farm Payroll data which cushioned the USD & also, raises the chances of rate hike in the next FOMC meeting. However, the momentum in indices widely depends upon the ongoing ECB’s efforts to control the rising inflationary pressure. The German Final Services PMI rose to 50.7 from 50.4 in the previous month while the German Trade Balance climbed to 10.0B against the expectation 9.2B. The result of German Factory Orders will remain in focus for the day. As seen in the chart, the index crossed up the major resistance level & hence, buying on lower side may be recommended further.

WTI Oil is trading at $73.54, 0.26% down since previous day close. The Oil prices slightly up in early trade on Monday post release of U.S Baker Hughes report which showed a fall in Oil rig counts by 10 leading to 599 from 609 in the previous week. However, the resurgence in US Dollar Index amid strong U.S NFP data & higher chances of rate hike stance in next Fed meeting led selling pressure in Oil prices on last Friday since they are inversely correlated. Earlier, the prices as tension emerges in Middle-east countries following a drone attack in Iran which can hamper the supplies. As seen in the chart, the Oil slid down from upper trend-line of channel pattern & so, slight selling bias may be seen for the day.