EUR/USD is trading at 1.09213, 0.19% up since previous day close. The EURO moved up against the mixed US Dollar over uncertain FOMC monetary outlook & escalating tech rout between U.S & China. Last week, the China injected $82.7 billion liquidity into financial system in order to cushion the economic conditions; which turned out to be supportive for major currencies. The Euro-zone Final CPI remained steady at 2.9% while the focus will be on German PPI data due to be issued today. The market will be looking forward to the result of PMI figures which are to be out later in this week. As seen in the chart, the pair seems to be hovering above the short-term MA (10) & MA (20) which indicates buying bias on lower side on daily basis.

JAP225 is trading at  33539, 0.22% up since previous day close. A sharp rally can be seen in Japanese shares amid chances of monetary easing in Japan’s policy in near future. Also, the Asian markets moved up after Chinese PBoC left short-term & long-term Prime Loan Rate steady. Last week, the JAP225 traded on positive note after U.S issued less weak CPI data; indicating the chances of less hawkish Fed monetary stance. The Chinese move of injecting liquidity into the financial system turned out to be supportive for global markets. The result of National Core CPI data will remain in focus for the week. As seen in the chart, an index is trading near the major resistance of previous highs & hence, a breakout can be seen if breaches the level.

Gold is trading at $1983  .44, 0.16% up since previous close. The gold prices seem to be trading sideways since last few sessions as traders remain cautious over Fed monetary outlook in future course of time. Last week, the rising tech rout between U.S & China may affect the gold prices since China is a top consumer of metals. The U.S CPI rate grew by 0.2% lower than expectation 0.3% which reduces the chances of rate hike stance in Fed’s near-term meeting & hence, weakens the USD & U.S bond yields. Ongoing tension between Israel & Hamas remains vital for precious metals. As seen in the chart, the gold is hovering near higher levels which acts as resistance level. Wait & watch strategy may be seen further.