AUD/USD is trading at 0.66680, 0.09% up since previous day close. The Aussie strengthened post release of housing sector data wherein the Building Approvals grew by 20.6% from -6.8% in the previous month which shows progress in housing sector. However, the traders will be looking forward to the Reserve Bank of Australia (RBA) meeting which is to be held on Tuesday with an expectation of steady monetary decision. Last week, the pair traded on lower side amid mixed USD on rising fear over higher rate hike stance in near future as mentioned by FOMC Powell. As seen in the chart, the pair AUD/USD seems to be showing a reversal phase from Fibo level 61.8 which acted as major support level & hence, slight buying may be recommended for the day.

INDIA50 is trading at 19300.3, 0.22% up since previous close. A strong breakout can be seen in the SGX Nifty amid positive regional as well as global cues. The merger of country’s one of the largest banks, HDFC Bank with its private entity HDFC Limited emerged the positive sentiments amongst the traders & investors. The progressive manufacturing & industrial activities in India further boosted the index INDIA50. On global front, the traders are digesting negative effect of hawkish outlook over monetary policy in near future as mentioned by major Central Banks chiefs last week. As seen in the chart, the CHNIND crossed over the major resistance of previous highs & hence, further upside may be expected. Buying on lower side may be recommended for the day in INDIA50.

Gold is trading at $1919.11, 0.21% up since previous close. Like indices & other global commodities, the Gold moved up on Monday against the steady USD as traders took a sigh of relief over panic aroused from hawkish U.S Fed Chair Powell speech regarding more rate hikes in this year. The commodity tested $1900-mark last week; however, it acted as a major support level. The China’s PBoC cuts down its Prime Lending Rate (PLR) by 10 bps lower than expectation which dragged down the prices; for China is a major consumer of metals. As seen in the chart, the Gold tested long-term MA (200) & reversed up which showed a buying bias on lower side on daily basis.