USD/CAD is trading at 1.21638, 0.19% down since Friday. The mixed USD as markets waits for the outcome of FOMC meeting which is to be concluded on Wednesday turned out to be slightly negative for other counterpart currencies. Earlier, the Canadian Dollar seems to be trading on bullish side near six-year highs due to firmer USD on account of rising inflation fears & poor U.S NFP data. Last week, the BoC left an interest rate steady at 0.25% same as expected which cushioned the pair. The Canada is to publish its Manufacturing Sales figure on Monday which remains vital for USD/CAD. As seen in the chart, the slight correction can be expected in SUD/CAD after testing the higher levels.

Gold is trading at $1857.54, 0.26% down since previous close. The gold prices slashed down since last two working days ahead of the result of U.S FOMC meeting wherein the dovish stance towards monetary policy is expected with a concern towards progress in employment sector. Last week, the U.S issued softer CPI data which grew by 0.6% lower than previous rise of 0.8% which turned out to be downbeat factor for USD & supportive for precious metals. The market will be eyeing Retail Sales data on Tuesday; determining a momentum in Gold. As seen in the chart, the commodity is trading near MA (10) & MA (20) which clearly shows the breakout on either side on daily basis.

JAP225 is trading at 29132, 0.13% up since Friday. An upside can be seen in Asian shares following a surge in U.S markets ahead of Fed meeting which is expected to remain dovish amid poor labor data. Last week, the not-so stringent U.S inflation data & ECB’s pledge to continue with its bond-buying program cushioned the global indices. The Japan’s Revised Industrial Production grew by 2.9% from 2.5% in the previous month which further cushioned the index JAP225 showing a progress in economic conditions. As seen in the chart, the index is strongly trading near the upper trend-line of channel pattern & hence, a strong breakout may be seen if breached. Further buying may be recommended on daily basis in JAP225 with a target of 29250-292320 levels.