USD/JPY is trading at 133.417, 0.02% up since previous day close. The steady USD ahead of the outcome of U.S CPI data which is to be issued on Wednesday made other currencies to trade on higher side. On contrary, the pair weakened against the strong USD as U.S issued better than expected Jobs data; which may raise the chances of Fed rate hike stance in coming months. On data front, the Japan’s Consumer Confidence rose to 33.9 from 31.1 in the previous month which may remain positive for USD/JPY. As seen in the chart, the pair reversed up from major support level of lower converging trend-line; however, trading at major resistance of previous highs. Slight buying bias may be established in YEN against USD.

CHNIND is trading at 6900.3, 0.02% down since previous close. The range bound trading can be seen in Chinese shares amid mixed outcome of inflation rate. The CPI rate grew by just 0.7% lower than expectation 1.0% while the PPI rate fell by 2.5% from -1.4% in the previous month. These signals for lower consumer spending & easing down of inflation rate. Globally, the U.S issued better NFP figures which resulted into chances of higher rate hike in upcoming meetings. This led to selling pressure in Asian shares to some extent. Besides this, the growing tension between U.S & China over Taiwan may poise to be vital for indices. As seen in the chart, the CHNIND is strongly trading within the Fibo level 23.6 & 38.2 which signals for sideways momentum on short term basis.

WTI Oil is trading at $80.30, 0.03% up since previous day close. The slight upside can be noticed in Oil prices on Tuesday against the mixed USD as the traders waits for the result of U.S CPI data on Wednesday. Earlier, the prices slid down as fear looms over demand side of the commodity on an account of growing tension between U.S & China over Taiwan issues; for China is a top Oil consuming country. Also, the strong USD amid strong U.S NFP figures raises the chances of higher rate hikes in Fed’s meetings led selling bias in dollar denominated commodity like Crude Oil. The focus will be on U.S API report which will be issued today. Wait & watch strategy may be recommended for the day in Oil prices.