USD/CAD is trading at 1.317,06 0.18% up since previous day close. The Canadian Dollar (CAD) strengthened against the USD after the U.S CPI rate eased down by 0.2% lower than expectation 0.3%. This may reduce the chances of aggressive rate hikes by the Fed this year & hence, cushioned the major currencies & bonds market. On Wednesday, the Bank of Canada (BoC) hiked an interest rate by 25bps leading to 5.00% from 4.75% which further supported the pair USD/CAD. The traders will be looking forward to the result of Manufacturing Sales data on Friday. As seen in the chart, the pair dragged down to the lower trend-line of channel pattern; indicating a breakdown if breached. Strong buying may be recommended in CAD against the USD for the day.

US30 is trading at 34595.3, 0.28% up since previous close. The U.S markets rallied on Wednesday after U.S issued a CPI data wherein the rate has been increased by just 0.2% lower than expectation 0.3%. This indicates a progressive control over rising inflationary pressure in an economy & hence, may limit the chances of aggressive interest rate hike chance. Also, the softer U.S Non-farm Payroll data reduces the rate hike stance & hence, cushioned the US30. Besides this, the market is looking forward for the stimulus package offering in China which may remain vital for indices. The result of Jobless Claims & PPI data will remain in focus today. As seen in the chart, the index is hovering near major resistance of multiple previous highs. Breakout can be expected if breached the level.

Silver is trading at $24.123, 0.32% up since previous close. The precious metals inches up on Thursday; extending the gains witnessed in the previous session. The colling down U.S CPI rate which grew by just 0.2% lower than expectation 0.3%; indicating a progress in controlling the inflationary pressure in U.S. This weighs down the USD as this limit the chances of aggressive Fed rate hike stance this year. The China is to infuse stimulus package which may raise the consumption demand of industrial metal like Silver; which made the commodity to trade on higher side. As seen in the chart, the Silver is on the verge of crossing over Fibo level 38.2 & hence, further buying bias may be recommended for the day.