USD/CAD is trading at 1.36821, 0.11% down since previous day close. The Canadian Dollar (CAD) weakened against the USD on Friday as U.S inflation rate rose by 0.4% against expected rise of 0.3%. This may increase the chances of rate hike in Fed’s near-term monetary policy meetings. On contrary, the lesser chances of interest rate hike in near future as hinted by Fed member earlier in this week turned out to be positive for other currencies. On data front, the Canada’s Building Permits grew by 3.4% from -3.8% in the previous month which widely cushioned the pair USD/CAD. As seen in the chart, the pair USD/CAD seems to be sustaining the cluster higher levels & hence, wait & watch strategy may be adopted for the day.

CHNIND is trading at 6139.3, 0.08% down since previous close. The Asian shares subdued following a downside in U.S markets as U.S issued a rise in CPI rate by 0.4% higher than expectation 0.3% which may increase the chances of interest rate hike in near future. On regional front, the China’s CPI rate showed no change against the expected rise of 0.2% while the PPI rate fell by 2.5% from -3.0% in the previous month. The Trade Balance surplus rose by 559B from 488B previously which may cushion up CHNIND later in the session. On global front, the concern looms over escalating geo-political tensions between Middle East regions & rising Crude Oil prices. As seen in the chart, the index is hovering near MA (10) & MA (20) which indicates mixed trading on daily basis.

Gold is trading at $1874.44, 0.02% up since previous close. The gold seems to be trading flat to higher side against the mixed USD post result of U.S CPI data which showed a rise in rate by 0.4% against the expected rise of 0.3%. Earlier, the FOMC Meeting Minutes showed mixed view over interest rate hike stance in upcoming Fed meet on an account of rising U.S bond yields which cushioned the precious metals. The rising geo-political tension between Gaza & Israel as Hams attacked Israel over this weekend; for Gold is a safe-haven instrument. As seen in the chart, the gold almost sustained the major support level of long-term MA (200) & almost crossed over MA (100). Buying on dips may be suggested for the day.