USD/JPY is trading at 132.038, 0.07% up since previous day close. The YEN strengthened against the USD as global outlook seems to be more positive after UBS agreed to buy Credit Suisse bank; adding on FOMC & other major Central banks efforts of providing stimulus aid to respective economies. Ructions in banking & financial system made the safe haven instruments like YEN & Gold more promising since last two weeks. Globally, the easing down U.S CPI rate & upbeat U.S labor figures can reduce the higher rate hike chances in Fed’s upcoming meet on Wednesday. As seen in the chart, the pair is strongly trading near Fibo level 61.8 which acts as major support level. Buying in YEN may be seen against the USD.

US30 is trading at 32071.3, 0.08% down since previous close. The some sort of selling pressure can be witnessed in U.S markets on Monday after rallying on UBS news of buying the Credit Suisse Bank. However, the traders & investors remain cautious ahead of the two-day FOMC meeting which will show its monetary decision. On weekend, the FOMC & other major Central banks decided to provide financial assistance to economies in order to stabilize global growth; which has been impacted by ructions in banking system. The soaring down Oil prices & steady USD may turn bullish for equity markets later on. The sideways trading may be expected for the day in US30 since the index is strongly hovering near Fibo level 50.0 which acts as major support level.

Gold is trading at $1973.52, 0.32% up since previous close. The Gold prices sharply rallied on last working day of the past week amid global sentiments improved after UBS signed a deal with Credit Suisse to take-over the latter bank. Also, the liquidity assistance being to be provided by FOMC & other Central Banks led buying pressure in commodities. Last week the U.S banking crisis, easing down U.S inflation data, better NFP figures led chances of smaller interest rate hikes in Fed’s upcoming meeting. Strong buying on corrective dips may be recommended for the day in Gold since the commodity is expected to test the Fibo Expansion level of 61.8 i.e., $2015 if upside persists further.