USD/CAD is trading at 1.21164, 0.16% down since Thursday. The strong USD after U.S posted better than expected ADP Employment Change & Jobless Claims data turned out to be softer for other basket of currencies. However, the market will be looking forward to the result if NFP figures which are to be out today. Earlier, the USD/CAD traded at six-year’s highs amid rising commodities prices, as Canada is a major commodity exporting countries. Globally, uncertain Fed monetary outlook remains crucial for major currencies& equity markets. The result of country’s employment data will remain vital today. As seen in the chart, the pair is still hovering near major support level & hence, the cautious trading may be recommended for the day.

Silver is trading at $27.341, 0.39% down since previous close. A biggest weekly loss can be seen in Silver on Thursday against the strong greenback. The U.S posted robust ADP & Jobless Claims data which showed a progress in labor sector & hence, resulted into this momentum in precious metals. Earlier in a week, the Silver showed higher levels due to rising uncertainty towards Fed tapering talk in its upcoming meet. The traders & investors are looking forward to the result of U.S NFP data release which is to be held today. As seen in the chart, the Fibonacci Retracement tool shows a contraction till Fibo level 23.6 & hence, slight selling bias may be recommended for the day.

US30 is trading at 34568, 0.06% down since previous day close. The slight selling pressure can be seen in U.S markets as USD rallied amid upbeat APD & Jobless Claims data which shows an improvement in labor sector. However, the market waits for the result of U.S NFP data which is to be released today. On Wednesday, the ISM Manufacturing PMI data climbed to 61.2 from 60.7 in the previous month & the ISM Services PMI rose to 64.0 from 62.7 previously which indicate a progress in economic conditions amid Covid-19 vaccine roll-outs. However, uncertainty looms over Fed QE tapering talks & monetary policy in the next meet which remains crucial for US30. Wait & watch strategy may be adopted for the day in US30.