USD/JPY is trading at 142.939, 0.22% up since previous day close. The YEN appreciated against the soft USD after U.S issued weaker than expected Non-farm Payroll data last week which may reduce the chances of aggressive rate hikes in near future. On data front, the Japan’s Bank Lending grew by just 3.2% lower than expectation 3.5% & the Current Account surplus fell to 1.70T from 1.90T in the previous month. Earlier, the pair softened post FOMC Minutes which hinted the hawkish stance over future monetary policy. As seen in the chart, the pair corrected down till Fibo level 23.6 which shows the chances of breakdown if breaches the level otherwise a reversal may be noticed. Slight buying bias may be suggested in JPY against the USD.

CHNIND is trading at 6242, 0.12% down since previous day close. The mild selling pressure can be seen in Chinese markets post release of mixed inflation data. The CPI rate showed no changes while the PPI rate fell by 5.4% weaker than estimation -5.0%. The result of Trade Balance data will remain in focus for the week. The escalating tension between U.S & China after the latter imposes curbs on exports of two chipmaking making materials to U.S subdued the CHNIND. Globally, the hawkish FOMC monetary stance & weaker than expected U.S NFP figures creates mixed sentiments amongst the traders. As seen in the chart, the CHNIND is trading within the converging trend-lines & hence, the cautious trading may be suggested for the day.

WTI Oil is trading at $73.35, 0.18% up since previous day close. The Oil prices edges higher on Monday post OPEC+ meeting wherein the Saudi Arabia announced to cut Oil output level by 1 mbpd for the month of August & the Russia will cut Crude exports by 5 mbpd. These affects the supplies & hence, made the commodity expensive. On Friday, the U.S Baker Hughes report showed a fall in Oil rig counts by 5 leading to 540 from 545 in the last week. The rising tension between U.S & China as China imposes curbs on exports of chipmaking materials to U.S; may hamper the Oil demand. Slight buying bias may be established for the day in WTI Oil since the commodity is on the verge of crossing over MA (100).