EUR/USD is trading at 1.08609, 0.16% up since previous day close. The EURO edges higher on Monday against the soft USD after U.S posted progressive CPI data & which raises the chances of smaller rate hikes in the next FOMC meeting. Improving Chinese economic conditions further cushioned the market sentiments. On data front, the Euro-zone Industrial Production grew by 1.0% against the expectation 0.6% & the Trade Balance deficit fell by 15.2B lower than previous figure -28.1B. Ongoing Euro-group meetings will remain vital for EUR/USD. Buying bias may be suggested in the pair since the pair almost crossed over major resistance level of previous highs & crossed Fibo level 61.8.

AUS200 is trading at 7328.8, 0.18% up since previous close. The Asian shares seems to be trading flat to higher side as traders hopes for smaller interest rate hike stance in the next Fed meet. On data front, the Australian MI Inflation Gauge grew by 0.2% against the previous figure 1.0% which limited the gains in AUS200. Globally, an easing down of restrictions in China & revival of economic conditions pushed up the AUS200 since Australia & China are the trading partners. The result of Westpac Consumer Sentiment data will remain into focus on Tuesday. Buying on lower side may be recommended for the day in AUS200 since the index is trading near major resistance of previous highs which signals for strong breakout if breaches the current levels

Gold is trading at $1924.33, 0.23% up since previous close. The Gold witnessed a strong breakout above the benchmark level of $1900 in last few sessions. The soft USD on account of rising chances of U.S smaller interest rate hikes in the near term amid controlled inflationary pressure & improving labor data showed in last week; turned out to be bullish for precious metals. Besides this, the opening of Chinese restrictions & lockdowns further led a buying bias in Gold since China is a top consumer of metals. The outcome of China’s GDP data will remain in focus on Tuesday. As seen in the chart, the Gold crossed over the major resistance level & hence, buying on lower note may be recommended for the day.