AUD/USD is trading at 0.64653, 0.09% up since previous day close. The Aussie turned on higher side on Monday against the soft USD as tension over aggressive rate hikes seems to be easing down. The traders expect no change in monetary change in upcoming RBA’s meeting which is to be held on Tuesday & hence, cushioned the pair AUD/USD. On data front, the Company Operating Profits fell by 13.1% against the previous figure 1.3% & the ANZ Job Advertisements grew by 1.9% from 0.7% previously. As seen in the chart, the pair AUD/USD took the support of lower trend-line of channel pattern whereas the ADX line is trading sideways near the level 25. Wait & watch strategy may be adopted for the day in AUD/USD as either side breakout can be seen.

GER30 is trading at 15912.3, 0.12% up since previous close. The European shares seems to be trading on higher side to some extent following other global peers. The fear over Fed hawkish rate hike stance seems to be easing down which contributes to bullishness in global markets. Besides this, the PBoC unveils a plan to cut down FX Reserve Requirement Ration (RRR) by 200 bps to 4% from 6% which might support the economic conditions. The German Manufacturing PMI remained steady at 39.1 same as expected while the Trade Balance surplus fell to 15.9B. As seen in the chart, the index seems to be trading above the key Moving Averages of period 10 & 20 & hence, buying on dips may be recommended for the day.

Gold is trading at $1944.46, 0.04% down since previous close. A tight range can be seen in gold prices amid mixed USD post U.S NFP data & ISM Manufacturing PMI figures which cooled down the higher interest rate hike fears amongst the traders & investors. Last week, the U.S showed no major change in inflation figures; making uncertain the Fed’s future monetary outlook & hence, restricted the gains in gold. However, the positive efforts taken in China & progressive talks over stimulus aid can support the prices since China is a major consumer of metals. As seen in the chart, the commodity is trading near long-term MA (100) & hence, wait & watch strategy may be adopted for the day.