USD/CAD is trading at 1.26057, 0.18% down since Tuesday. The mixed global sentiments amid rising Covid-19 cases across the globe; leading to strict lockdown turned out to be slightly negative for Canadian Dollar (CAD) as well. Also, the market is remaining cautious ahead of Bank of Canada (BoC) meeting which will focus on interest rate decision keeping in mind Covid situation. In Canada, the Housing Starts data showed a rise in figure by 335K against the expectation 254K which pushed up the USD/CAD. As seen in the chart, the pair is trading within the sideways channel pattern; testing an upper trend-line of channel pattern. Also, the RSI line is floating near mid-level 50; indicating the chances of reversal or breakout on daily basis.

WTI Oil is trading at $62.12, 0.24% down since Tuesday. The Oil prices retreated on Wednesday amid resurging Covid-19 cases in Japan & India, since latter is one of the leading consumers of the commodity. The lockdown in the country may affect the consumption demand of Oil & hence, the prices lower down. The recent U.S API report showed a rise in Oil stocks level by 0.43 mbpd against the expected fall of 2.86 mbpd. Last week, the prices on growing tension in Middle East regions after Yemen-based Houthi movement said it fired missiles on Saudi oil sites; which may disrupt the Oil supplies from the top producer of Oil. Slight selling may be recommended in WTI Oil for the day.

US30 is trading at 33660, 0.14% down since previous day close. The downward momentum can be seen in U.S markets after surging to record high levels above $34000 earlier in a week. A recovery in global growth & adopting accommodative policy all over the world aided the rally in US30. However, the resurging Covid-19 cases in Asian countries creates a doubt on the pace of global growth & hence, the equities slashed down slightly on Wednesday. The focus will remain on ECB meeting which is to be scheduled today & hence, may remain vital for equities. As seen in the chart, the correction can be seen in US30 till MA (10) & further selling may lead the index till MA (20). Slight downside momentum may be recommended in US30 on daily basis.