USD/CAD is trading at 1.34877, 0.02% down since previous day close. The Canadian Dollar (CAD) weakened amid decline in Oil prices as recession fear looms in U.S economy; for CAD & Oil are directly correlated. Also, the surging USD ahead of the U.S NFP data release event which is to be held on Friday makes the other currencies weaker. On data front, the Canada’s Trade Balance surplus rose to 0.4B lower than previous figure 1.2B while the focus will be on country’s Employment data which is to be issued today. As seen in the chart, the pair reversed down from major resistance level; however the pair seems to be taking a support at MA (200) which is now major level. Wait & watch strategy may be build-up for the day.

US30 is trading at 33608, 0.06% down since previous day close. The U.S markets seems to be trading flat to lower side on Thursday post release of U.S ADP Employment Change data which showed a rise in number of employed people by 145K lower than previous figure 261K & the weaker than expected Trade Balance data turned the earlier gains into losses in US30. However, the momentum may be short-lived & the buying pressure may be retained again since the global sentiments are boosting up & Oil prices gets weaker from one-month highs. Upcoming event of U.S Non-farm Payroll data release will remain vital for the week. As seen in the chart, the US30 is sustaining the MA (100) which indicates the chances of strong breakout if breached.

Gold is trading at $2013.14, 0.02% down since previous close. The slight profit-booking can be seen in gold prices in early trade on Thursday against the steady USD as market waits for the result of U.S Non-farm Payroll data which is to be issued on Friday. The prices tested $2030 levels against the soft USD on Wednesday as U.S issued poor Jobless Claims & Trade Balance data. Earlier, the prices slightly moved down as U.S First Citizen may take-over the SVB; easing down the banking crisis fear. Globally, the Fed hiked an interest rate by 25bps leading to 5.00% from 4.75%; though hinting for more rate hikes in near future led buying in commodities. Buying on corrective dips may be recommended in Gold for the day.