USD/CAD is trading at 1.33630, 0.12% down since previous day close. The Canadian Dollar (CAD) weakened in early trade on Friday as traders wait for the result of U.S Non-farm Payroll data which is to be issued today. Last week, the pair USD/CAD strengthened as traders expect U.S interest rate cut in the month of March; as hinted by few Fed officials in December. The Canada’s Manufacturing PMI fell to 45.4 from 47.7 in the previous month while the focus will be country’s employment data which is to be released today. As seen in the chart, the pair USD/CAD tested previous lows & shows some pullback; however, the sideways moving ADX line indicates no-trading zone. Wait & watch strategy may be recommended for the day in USD/CAD.

WTI Oil is trading at $73.05, 0.17% up since previous day close. The Oil prices trades on higher side post release of U.S EIA report which showed a fall in Oil inventory levels by 5.5 mbpd against the expected fall of 3.2 mbpd; which indicates a shortage in storage levels. Ongoing tension between Middle East regions after the U.S forces attacked Houthis militants in Red Sea which may disrupt Oil supplies made the commodity more expensive. Last week, the slowing demand from China, an earthquake in Japan & uncertain Fed monetary view makes the dollar denominated commodities volatile. As seen in the chart, the Oil is trading near short-term MA (10) & MA (20) which indicates a sideways momentum for the day.

US30 is trading at              37681, 0.02% down since previous day close. The selling pressure can be seen in U.S markets on Friday as traders & investors are looking forward to the result of Non-farm Payroll data due today. Other than this, the earthquake in Japan & poor Chinese PMI figures affected the global sentiments & hence, limited the gains in equity markets earlier in this week. Optimism looms over interest rate cut in the month of March which pushed up the US30. The result of U.S ISM Services PMI data will remain in focus for the day. As seen in the weekly chart, the index is trading in a buying zone; however, the slight correction can be seen for short term basis. Sideways trading may be recommended for the day in US30.