USD/CAD is trading at 1.28981, 0.07% down since previous day close. The Canadian Dollar weakened against the strong USD after FOMC & other major Central banks adopted tightening monetary measures in order to control rising inflation concern & escalating Omicron situation. Also, the soft Oil prices further slashes down the CAD since they share the direct correlation. Last week, the Canada’s Foreign Securities Purchases rose to 23.92B from 19.78B in the previous month which creates mild impact on USD/CAD. As seen in the chart, the pair seems to be trading near cluster resistance level which signals for strong breakout if breached. Otherwise a reversal till MA (10) can be seen if sustained the level. Slight selling may be suggested for the day in USD/CAD.

Coffee is trading at $234.37, 0.13% down since previous day close. The Coffee retraced down after testing multi-year highs of around $250 levels amid global cues. The strong USD after FOMC hinted for sooner rate hike in the next year 2022 & also, increasing the pace of stimulus tapering turned out to be negative for Brazilian Real (BRL) currency since this may fetch lesser profits to Brazilian farmers while exporting the beans to U.S. However, the tightening output & supplies from major producing country, the Brazil, on account of change in climatic conditions may remain bullish for Coffee prices in long term. As seen in the chart, the Coffee is trading at MA (20) & hence, slight sideways momentum may be recommended further.

US30 is trading at 34973, 0.47% down since previous day close. The global markets spooked down in early trade on Monday after panic holds the ground amid major Central Banks unexpected hawkish stance. Last week, the Fed projected for interest rate hike chances as early as March 2022. Following the same move, the Bank of England hiked its interest rate by 0.25% from 0.10% against the expectation & also, the ECB stated for cutting down its bond-buying program within three months which remained suppressive for US30. Globally, the worsening Covid-19 & Omicron situation remains crucial for indices. As seen in the chart, although the US30 is trading in a bullish channel yet it may correct till lower trend-line of channel pattern.