USD/CAD is trading at 1.34114, 0.09% down since previous day close. The volatile Oil prices turned up slightly negative for Canadian Dollar (CAD) since they are directly correlated. On global front, the strong USD post release of upbeat U.S Non-farm Payroll data last Friday showed the higher chances of rate hike stance in the next FOMC meetings. This widely depreciated the other basket of currencies. The Canada’s Ivey PMI climbed to 60.1 from 33.4 in the previous month while the focus will be on country’s Trade Balance figures today. Besides this, improving Covid-19 situation may remain supportive for commodity backed currencies in longer term. Slight selling pressure may be seen in CAD against the USD.

AUS200 is trading at 7432.8, 0.12% down since previous day close. The Asian shares soars down in early trade on Tuesday as global sentiments turned suspicious over future Fed’s monetary decisions. The recent U.S NFP data release showed the higher chances of rate hike stance in next meet which led to the selling pressure in U.S, European & Asian markets. On regional front, the Reserve Bank of Australia (RBA) hiked an interest rate by 25bps leading to 3.35% from 3.10% which cushioned the Aussie & slightly weigh down the AUS200. As seen in the chart, the index AUS200 is hovering near major resistance of previous highs which indicates the chances of make or break situation on daily basis. The cautious trading may be recommended for the day in AUS200.

Gold is trading at $1873.24, 0.09% down since previous close. The mixed trading can be seen in Gold prices as the traders & investors remain cautious ahead of the FOMC Chair Jerome Powell speech which is to be released today. Majorly, the strong USD as U.S issued robust NFP data which signaled for improvement in employment status compared to last month led heavy selling pressure in safe haven assets; for this raises the chances of higher interest rate hike decision in the future FOMC meetings. As seen in the chart, the Gold corrected to MA (10) & MA (20) after rallying to higher level of $1960 which may turn up as major support levels. Slight buying pressure may be recommended for the day.