UK100 is trading at 7403.3, 0.08% up since previous day close. The indices seems to be trading on higher side amid mixed USD after investors expects a 75bps rate hike stance in ECB meeting which is to be held in September. On Monday, the UK100 showed a sharp fall post Jackson Hole Symposium event wherein the Fed Chair Jerome Powell hinted for aggressive rate hike stance in near future to curb inflation. The result of U.K’s Money Supply & Net Lending to Individuals data will remain in focus for the day. The traders will be eyeing the outcome of Non-farm Payroll data on Friday. As seen in the chart, the index is trading in a bullish channel pattern which indicates the chances of further upside. Hence, any corrective dip may be considered as a buying opportunity.

Gold is trading at $1734.06, 0.12% down since previous day close. The mixed trading can be seen in precious metals as USD turned down from 20-year highs on Tuesday as traders expects a 75bps rate hike in the next ECB meeting; which can strengthen the EURO. Earlier, the Gold slid down against the strong USD post U.S Jackson Hole Symposium speech which showed the chances of interest rate hike by 75bps in the near future in order to control the rising inflation in an economy. This weakened the sentiments & hence, dragged down the Gold prices. The outcome of U.S NFP figures will remain vital in later half of the week. The cautious trading may be seen for the day in Gold.

USD/CAD is trading at 1.30207, 0.11% down since previous day close. The selling pressure can be seen in Canadian Dollar (CAD) despite rise in Oil prices since they share direct correlation. Earlier, the pair weakened as 75bps rate hike can be seen in future curse of time; as hinted by FOMC Chair in Jackson Hole Symposium speech. The Canada’s Corporate Profits grew by 6.5% from 1.9% in the previous month which widely cushioned the pair USD/CAD. Globally, the result of U.S Non-farm Payroll data will be closely monitored later in this week. As seen in the chart, the pair is trading near the upper trend-line of channel pattern & also, the RSI line is trading near higher level 70. Slight selling may be noticed for the day.