USD/CAD is trading at 1.21755, 0.17% up since Thursday. The Canadian Dollar (CAD) slightly moved up against the steady USD after Fed officials incited the chances of gradual approach towards interest rate hike decision. Earlier, the pair weakened after U.S posted better than expected CPI figures which may result into rate hike & QE tapering down talks. Last week, the USD/CAD tested three-year highs post soft U.S Non-farm Payroll data which showed slowing employment sector. The result of Manufacturing Sales & Wholesale Sales data will remain in focus for the day. As seen in the chart, the pair is strongly trading near major support of previous lows showing the probability of breakdown if breached or a reversal if sustained the levels.

WTI Oil is trading at $63.62, 0.32% down since Thursday. The Oil prices retreated on Friday after U.S Colonial pipeline resumed its fuel production operations after remaining shut for few days amid massive cyber attack. Also, the concern remains over rising Covid-19 cases in India which limits the consumption demand of Oil; since India is one of the top Oil consuming countries. On Wednesday, the EIA report showed a mild fall in Oil inventory level by 0.4 mbpd against the expected fall of 2.1 mbpd. The result of U.S Baker Hughes report will remain in to focus for the day. Slight selling bias may be build up in WTI oil since the commodity is trading near lower levels & may continue to trade downside.

US30 is trading at 34063, 0.16% up since Thursday. The U.S markets slightly recovered on Friday as Fed officials showed a sigh of relief over inflation fear with adopting gradual steps towards interest rate hike. Earlier, the index slid down as U.S CPI rate grew by 0.8%; highest in last 12 years amid rising housing consumption demand in the midst of global recovery & increasing commodities prices which led to this inflation rise. Last week, the US100 formed record high amid soft U.S NFP data which probably makes Fed to leave interest rates on lower side & also, diminishes the chances of QE tapering. As seen in the chart, the index is trading near lower trend-line of channel pattern & hence, a cautious approach may be seen further.