USD/CAD is trading at 1.33684, 0.11% up since previous day close. An upward momentum can be seen in Canadian Dollar ahead of the Employment figures which is due today. On Wednesday, the Bank of Canada (BoC) hiked an interest rate by 25 bps against the expectation of no rate change. This resulted into robust upside in Canadian Dollar. The country’s Trade Balance deficit rose to 74.6B as against the precious deficit of 60.6B. Globally, the mixed USD on upcoming FOMC meeting & optimism over signing of U.S debt ceiling bill into law by U.S President Biden over the weekend led a buying bias in currencies. Buying on lower side may be recommended for the day in USD/CAD.

CHNIND traded at 6547, 0.12% up since previous day close. The slight upside can be seen in Chinese shares, though the gains seem to get limited post result of inflation data. The CPI rate grew by 0.2% from 0.1% in the previous month while the PPI rate fell by 4.6% weaker than expectation -4.3%. Earlier, the CHNIND moved in higher side as the global sentiments improved over signing up of U.S debt ceiling bill by President Joe Biden to avert the debt repayment till January, 2025. However, the traders & investors remain cautious over FOMC monetary stance in its upcoming meeting as U.S showed an increase in employment figure, which can raise a chance of rate hike. Wait & watch strategy may be established for the day in CHNIND.

WTI Oil is trading at $70.82, 0.12% down since previous day close. The short-term gains turned into losses on Friday against the mixed USD ahead of the FOMC meeting which is to be holding up next week. The U.S EIA report showed a dropdown in Oil stocks level by 0.5 mbpd against the expected rise of 1.2 mbpd. Also, the American Petroleum Institute (API) report revealed a fall in Oil stocks level fell by 1.710 mbpd against the expected rise of 1.50 mbpd. Earlier in this week, the Saudi Arabia announced a supply cut for the year 2024 starting from the month of July of 9 mbpd in its OPEC+ meeting. Slight selling bias may be recommended for the day in WTI Oil.