USD/CAD is trading at 1.34075, 0.06% down since previous day close. The selling pressure can be seen in Canadian Dollar (CAD) ahead of the release of country’s CPI data today. The Manufacturing Sales failed to show any major changes as compared to previous reading of 2.4% while the focus will be on Foreign Securities Purchases data due today. On contrary, the mixed USD as traders remained optimistic over chances of smaller interest rate hikes in forthcoming FOMC meeting led slight buying pressure in major currencies. Last week, the U.S issued lower rise in CPI rate which strengthens the major currencies. As seen in the chart, a further upside can be expected in CAD against the USD & may test the MA (200) if upside prevails.

INDIA50 is trading at 17968.3, 0.07% up since previous close. The SGX Nifty seems to be trading on higher side following the global peers on improving sentiments amongst the traders & investors. The India’s inflation rate cooled down to 5.80% which hints for progressive control over inflationary pressure. Also, the changes in banking & industrial reforms across the country led further upside in INDIA50. On global front, the result of U.S CPI data showed a progress in inflationary concern & may raise the chances of smaller interest rate hikes in near future. Earlier, the better U.S Non-farm Payroll data & the positive chances of easing down restrictions in China surged up the global markets. Buying on corrective dips may be recommended for the day in INDIA50.

WTI Oil is trading at $79.23, 0.06% down since previous day close. A tight range can be seen in Oil prices since last few sessions after surging up to one-week highs in the last week. The U.S Baker Hughes report shows a mild rise in Oil rig counts by 5 leading to 623 from 618 in the last week. Earlier, the prices recovered against the soft USD on rising chances of smaller rate hikes in Fed’s next meeting on an account of better than expected U.S Non-farm payroll data. The Saudi Arabia cuts down the Oil selling prices to Asia & Europe which cushioned the prices. The result of U.S API & EIA reports will be closely monitored for the week. Sideways trading may be recommended for the day in WTI Oil.