USD/CAD is trading at 1.34615, 0.08% up since previous day close. The Canadian Dollar (CAD) appreciated since last two sessions as market remain cautious ahead of U.S CPI data release event which is to be held today. Besides this, the Bank of Canada (BoC) is to hold its meeting today which disclose its monetary stance. The declining Oil prices failed to suppress the CAD as they are directly corelated. Globally, the steady USD on account of mixed chances of higher rate hikes in coming months led slight buying in other currencies. As seen in chart, the pair is trading near MA (200) & may breakdown the current range of levels. The sideways moving ADX line signals for mixed trading in USD/CAD & slight buying may be recommended for the day in CAD against the USD.

INDIA50 is trading at 17831, 0.31% up since previous day close. A sharp rally can be seen in SGX Nifty amid strong global as well as regional cues. On global front, the mixed USD ahead of the U.S CPI data release & controlled Chinese inflation data led positive sentiments amongst the traders & investors. Regionally, the India’s March CPI inflation fell to 15-month lows of 5.7% due to favourable base & hence, contributed the bullishness to INDIA50. Last week, the RBI kept its interest rate unchanged with a consideration on improving inflation figures led buying bias in SGX Nifty. As seen in the chart, the INDIA50 successfully crossed over the short-term Moving Averages & also, crossed MA (200). This indicates the buying bias on each & every corrective dip in INDIA50.

Gold is trading at $2018.45, 0.12% up since previous close. The Gold continued to trade on higher side since previous session against the mixed USD ahead of the result of U.S CPI data which is to be issued today & which is expected to be eased down as compared to previous figures. Earlier, the prices weakened after U.S issued better than expected Non-farm Payroll figures which raise the chances of higher rate hikes in Fed’s next meeting. The growing tension between U.S & China over Taiwan further affect the prices since China is a top consumer of metals. The strong breakout can be expected in Gold if the commodity crosses over the Fibonacci Expansion level 61.8 on daily basis.