EUR/USD is trading at 1.35460, 0.06% up since previous day close. An upward momentum can be seen in CAD as traders are looking forward to the result of country’s Employment data which is to be revealed today. Also, the mild changes in Trade Balance figures failed to create any momentum in USD/CAD. Earlier, the steady US Dollar post release of U.S FOMC Minutes which showed the possibility of smaller rate hikes in near future cushioned the other basket of currencies. Moreover, the slight rebound in Oil prices led buying pressure in CAD since they are directly correlated. Slight buying bias may be suggested in CAD against the USD on daily to medium term basis.

US100 is trading at 10873.3, 0.01% up since previous close. The flat trading can be seen in U.S markets in early trade on Friday ahead of the release of Non-farm Payroll data which will show the changes in country’s labor sector & hence, may contribute in upcoming Fed’s monetary decisions. However, the US100 witnessed a range bound trading post release of FOMC Minutes which hinted for chances of smaller rate hikes in the near future. On contrary, the doubtful Chinese Covid restrictions easing down policy makes the traders & investors more cautious. The result of U.S ISM Services PMI data will be closely monitored as well. As seen in the chart, the index is trading near support level of MA (100) which strongly shows the chances of buying bias on short term basis.

Silver is trading at $22.384, 0.09% up since previous close. An upward momentum can be seen in precious metals as FOMC members hinted mixed view over future FOMC monetary decision regarding interest rate hikes. Earlier this, the Silver slid down from higher levels of $24 after U.S posted upbeat NFP figures which increases the chances of higher inflation rate vis-à-vis higher interest rates. Last week, the China issued better than expected PMI figures which cushioned the prices since China is a top consumer of metals. The outcome of U.S Jobless Claims data will remain vital for USD & Silver since they are inversely correlated. Buying on corrective dips may be recommended on short term basis in Silver.