AUD/USD is trading at 0.66962, 0.06% down since previous day close. The range bound trading can be seen in AUD/USD ahead of the release of U.S inflation data due to be held on Wednesday. This overshadows the positive effect emerges out of better-than-expected Australia’s Retail Sales & Building Approvals data.  On global front, the rising chances of rate cut in near term as hinted by Fed Chair Powell in early December led the buying pressure in AUD/USD. The result of CPI figures will remain in focus for the day. As seen in the chart, the pair is almost tested previous highs & MA (100) which indicates an either side breakout. Hence, the cautious trading may be recommended for the day.

WTI Oil is trading at $71.44, 0.07% down since previous day close. The Oil prices retreated after the Saudi Arabia, world’s largest Oil exporter cut-down the prices of its exports to Asia & parts of Europe. Last week, the Oil prices traded on higher side amid ongoing tension between Middle East regions after the U.S forces attacked Houthis militants in Red Sea which may disrupt Oil supplies. Globally, the slowing demand from China & uncertain FOMC future monetary view makes the dollar denominated commodities volatile. The result of U.S API report will remain in focus for the day. As seen in the chart, the Oil is trading near short-term MA (10) & MA (20) which indicates a sideways momentum for the day.

GER30 is trading at 16699.3, 0.01% down since previous close. The mixed trading can be seen in GER30 amid global cues. The German Industrial Production fell by 0.7% against the previous month -0.3% which subdued the index GER30. Globally, an impending result of U.S CPI data & uncertain FOMC future monetary outlook led the selling pressure in world indices. However, optimism hovers in technology sector as exposure towards AI increases & hence, may remain supportive for GER30 later in this session. The ECB’s hawkish stance towards rate hike may support the GER30 in long run. As seen in the chart, the index GER30 seems to be correcting downside from major resistance level & hence, the sideways trading may be recommended for the day.