USD/CAD is trading at 1.25796, 0.03% up since Tuesday. The steady momentum can be seen in Canadian Dollar against the USD ahead of FOMC meeting with a focus on interest rate decision which is to be concluded today. Besides this, the recovery in Oil prices after a sharp sell-off turned out to be slightly supportive for USD/CAD. Last week, the country’s Retail Sales fell by 2.0% weaker than expectation 1.6% which slightly depreciated the pair. The result of CPI data will remain into focus for the day. As seen in the chart, the pair USD/CAD is constantly taking a support of MA (10) & MA (20); however it reversed down from major resistance level. This shows the chance of further buying in CAD against the USD on the daily basis.

Gold is trading at $1804.39, 0.15% up since Tuesday. The safe haven instruments like Gold edged up on Wednesday in the midst of decline in equities & the fear looms on the Chine markets crackdown amid tech shares rout. Thus increases the demand & investment in riskier assets. Also, the steady USD & soaring bond yields ahead of FOMC meeting which is to be concluded today; showing the monetary policy outlook remains bullish for Gold. Also, an outcome of U.S Advance GDP data will be closely watched for the day. As seen in the chart, the Gold is trading within Moving Averages indicating the formation of strong consolidation phase. Slight buying may be suggested for the day in Gold.

CHNIND is trading at 8922, 0.52% down since previous day close. A tumultuous phase can be noticed in CHNIND amid tech shares rout on stricter regulations. Also, uncertain FOMC meet which is to be concluded today remains a crucial factor for indices. Besides this, the growing tension amongst the US. U.K & China over technology hacking issues further dragged down the Chinese markets. Earlier, the robust U.S corporate earnings & the progressive trails against Delta variant virus remained supportive for equities. The result of China’s PMI figures will remain significant in this weekend. As seen in the chart, CHNIND strongly crossed down the bearish channel pattern with a heavy trading volume which indicates further selling in the index.