USD/CAD is trading at 1.34773, 0.06% down since previous day close. The Canadian Dollar seems to be trading in a tight range as traders remain cautious ahead of U.S FOMC Minutes due to be released in this week. Besides this, the result of country’s inflation data will be closely monitored today. On global front, the fear looms over strong chances of aggressive rate hikes in Fed’s next meeting amid higher change in U.S CPI & PPI data which turned bearish for other currencies. The weaker Oil prices subdued the CAD since they are directly correlated. Last week, the Canada’s Foreign Securities Purchases rose to 21.22B from 12.40. As seen in the chart, the pair is hovering near MA (100) which indicates the chances of either side breakout on daily basis.

Gold is trading at $1838.31, 0.02% down since previous close. The mixed USD ahead of the U.S FOMC Minutes release which is due on late Wednesday led a range bound momentum in precious metals. The Gold slid down to $1830 levels in this week amid rising fear over chances of aggressive rate hikes in the next Fed meeting as U.S PPI & CPI data showed higher changes as compared to previous readings. However, the long term trend in precious metals may remain intact as economic conditions in China seem to be improving; for China is a major commodity consuming country. As seen in the chart, the Gold is strongly hovering near Fibo level 38.2 which acts as major support level. The cautious trading may be suggested further.

FRA40 is trading at 7339.8, 0.14% up since previous day close. The index FRA40 is expected to open on slightly lower side on Tuesday as other global peers seems to be soaring down ahead of the U.S FOMC Meeting Minutes which is to be issued on late Wednesday; with a focus on monetary policy decision. Globally, the fear hovers over chances of aggressive rate hikes in Fed’s upcoming meeting; for U.S issued higher rate change in CPI & PPI as compared to prior reading. The French Final CPI remained steady at 0.4% same as expected while the focus will be on the result of Manufacturing & Services PMI figures today. As seen in the chart, the index is trading near major resistance of previous highs & hence, the breakout may be seen if breached the levels.