USD/CAD is trading at 1.33863, 0.07% down since previous day close. The Canadian Dollar (CAD) seems to be trading lower against the USD after few Fed officials showed uncertain view over rate cuts in near term; amid sticky inflation rate. Last week, the pair witnessed a strong buying after Fed Chair hinted a dovish stance in March 2024 which widely dragged down the USD. The volatile Oil prices remains vital for CAD since both are directly correlated. The traders will be looking forward to the result of CPI & Core CPI data release event which are to be issued today. As seen in the chart, the pair USD/CAD is trading below the resistance level & further buying may be recommended in CAD against the USD on each & every corrective dip.

Gold is trading at $2026  .44, 0.05% down since previous close. The gold weakened against the USD after few Fed officials hinted for lesser chances over rate cut stance in near future in their speeches. Also, the ultra-dovish BoJ stance & leaving its interest rate steady at -0.10% led the selling pressure in gold & YEN. Last week, the prices rallied after U.S Fed hinted for the chances of three rate cuts in the year 2024 & the Chinese PBoC’s move of injecting the stimulus aid worth $200 billion in order to support the industrial & economic conditions pushed up the gold prices since China is a top consumer of metals. As seen in chart, the gold is still hovering near major resistance level & hence, the cautious trading may be recommended.

US30 is trading at 37696.3, 0.08% up since previous close. The range bound trading can be seen in US markets after few Fed officials showed a suspicious view over rate cut stance in the March 2024. However, the same factor accounted for a rally in US30 U.S after FOMC hinted a three interest rate cuts in the year 2024. The Chinese PBoC announced a stimulus package worth $200 billion to boost up the economic conditions which supported the global equity markets last week. On data front, the U.S  NHPI rose to 37 from 34 in the previous month while the focus will be on Housing data which will be issued today. As seen in the chart, the index crossed over upper trend-line of channel patter which indicates a strong buying bias on corrective dips on short term basis.