USD/CAD is trading at 1.35847, 0.11% up since previous day close. The Canadian Dollar (CAD) saw a strong upside against the soft USD after few Fed officials hinted mixed stance over future monetary tightening stance. However, the fear for the same was accountable for selling bias on major currencies earlier in this week. Apart from this, the rising Oil prices turn bullish for Loonie since CAD is a commodity-backed currency. On data front, the Manufacturing PMI rose to 52.4 from 51.0 in the previous month while the focus will be on Building Permits data release today. As seen in the chart, the pair seems to be reversing downside from major resistance level of previous highs & hence, buying in CAD may be recommended for the day against USD.

US100 is trading at 12028.8, 0.03% up since previous day close. The U.S markets surges up in early trade on Friday amid positive global outlook. On Thursday, the few Fed officials hinted for gradual rate hike stance in the coming months how-so-ever it may get shifted to aggressive stance if required. This mixed statement led some sort of buying in U.S markets. The U.S Jobless Claims fell to 190K lower than expectation 196K which further cushioned the US100. The better than expected Chinese PMI figures & upbeat corporate earnings adds on bullishness in US100. The result of ISM Services PMI will remain in focus for the day. As seen in the chart, the index seems to be taking a support of Fibo level 38.2 & hence, buying bias may be expected for the day in US100.

Gold is trading at $1838.94, 0.12% up since previous close. The recovery mode can be seen in Gold prices in early trade on Friday against the softer USD as few Fed officials hinted for less hawkish interest rate hike stance in FOMC’s next meeting. Besides this, the China posted better PMI figures which again turned up positive for Gold & Silver since China is a major consumer of metals. Last month, the Gold soared down to three-month lows after FOMC Minutes hinted for higher interest rate hike chances in the next Fed meeting. The focus will be U.S Services PMI figures today. Buying on correction may be suggested for the day in Gold since the commodity seems to be reversing up from support level of MA (100).