EUR/USD is trading at 1.18966, 0.18% up since Friday. The EUR slightly gained the momentum after heavily sliding down last week against the strong greenback. The cautious market sentiments ahead of ECB Chief’s Lagarde speech pulled up this rally in EUR/USD today. Earlier, the sudden hawkish stance hinted by FOMC regarding two interest rate hikes in the year 2023 caused a massive selling in EUR/USD. The Euro-zone Final CPI data remained constant same as previous reading which failed to show any major changes in EURO. As seen in the chart, the pair is below the major Fibo level 61.8 which shows the chances of reversal till the same. However, the level will remain vital as this may lead to a make or break situation & hence, cautious trading may be seen for the day in EUR/USD.

Gold is trading at $1782.99, 0.36% up since previous close. A strong rebound can be seen in Gold against soft greenback after plunging down heavily in the last week. The Fed’s hawkish stance of raising interest rate twice in the year 2023 remained supportive for USD & negative for the precious metals. However, the mixed market sentiments ahead of ECB Lagarde’s speech & ongoing M & A deals in Europe remains vital for Gold today. The market will be looking forward to the outcome of Fed Powell testifying speech on Tuesday. As seen in the chart, the commodity is strongly trading near Fibo level 61.8 which indicates a make or break situation on short to medium term basis.

AUS200 is trading at 7191, 0.09% up since previous day close. An upside can be seen in Asian shares following the positive momentum in global indices ahead of ECB Chief Lagarde speech. Last week, the FOMC hinted a rate hike chances & also, may hit tapering talks which widely slid down the AUS200. The Australian Retail Sales grew by just 0.1% lower than expectation 0.4% which shows a slowdown in industrial activity. The result of PMI figures will be closely monitored on Tuesday. As seen in the chart, the AUS200 is tightly trading near lower trend-line of bullish channel pattern & also, RSI line is hovering near mid-level 50. Slight buying may be suggested for the day in AUS200 with the target of 7250 on short to medium term basis.