USD/CAD is trading at 1.34999, 0.11% up since previous day close. The Canadian Dollar appreciated against the soft USD as rise in U.S inflation rate by 0.3% may not suffice the criteria of Fed for more interest rate hike in upcoming meet which is to be held in next week. The rising Oil prices further pushed up the CAD since they are inversely correlated. The Wholesale Sales grew by 0.2% against -2.8% in the previous month which created not-so major impact on USD/CAD. The traders will be focusing on Foreign Securities Purchases & Manufacturing Sales data today. Slight buying pressure may be established in CAD against the USD on an intraday basis since the pair seems to be sustaining the resistance level.

CHNIND is trading at 6379.3, 0.22% up since previous close. The Chinese shares showed a rally in an index after PBoC cut down its Reserve Requirement Ratio (RRR) by 25bps & is expected to offer stimulus aid in future course of time. On global front, the traders & investors hope for no-change in interest rate by Fed since the U. S CPI rate showed a mild rise of 0.3%. Last week, the trade tension between U.S & China worsened after the former imposes few export curbs on Chinese tech companies in retaliation to Chinese actions which subdued the equity markets. As seen in the chart, the index CHNIND took a strong support of previous lows & is expected to test the MA (100) if upside prevailed further. Buying on dips may be recommended for the day.

WTI Oil is trading at $90.29, 0.12% up since previous day close. A sharp rally can be seen in Oil prices on Friday after Chinese PBoC cut-down its Reserve Requirement Ratio (RRR) by 25bps in order to boost economic conditions & hence, makes the Oil prices to trade on higher side since this move may increase the demand of oil from one of the major oil consuming countries. Earlier in this week, the OPEC report showed the chances of more supply cuts in near future from OPEC+ countries which cushioned the prices. The result of U.S Baker Hughes report will remain in focus for the day. As seen in the weekly chart, the Oil is trading near major resistance of previous highs & hence, buying momentum may be expected.