USD/JPY is trading at 108.550, 0.38% up since Friday. The soft USD which is trading at four-week low remains supportive for other basket of currencies. Also, the continuation of adopting accommodative monetary policy from major banks further cushioned the riskier assets. The global cues like soaring U.S bond yields, progress in economic growth, chances of clearing U.S stimulus bill & upbeat quarter earnings contributed this rally The Japan’s Trade Balance surplus rose to 0.30T against the expectation 0.20T which turned out to be positive for USD/JPY. As seen in the chart, the pair is hovering below the MA (10) & MA (20) & also, the RSI line is trading below 50 & hence, further buying momentum may be seen in YEN against the USD for the day.

Natural Gas is trading at $2.679, 0.27% up since Friday. The prices of the commodity rose up since last few trading sessions amid progress in global growth which may revive the consumption demand of Natural gas. Last week, the Energy Information Administration (EIA) report showed a build-up in inventory level by 61B against the expected rise of 67B. The change in climatic conditions in U.S & European regions; with a weather turning colder from normal makes the heating fuels like Natural gas more expensive. As seen in the chart, the Natural Gas successfully crossed MA (10) & MA (20) & also, took a strong support of previous lows & hence, buying on lower levels may be recommended for the day.

INDIA50 is trading at 14449, 0.38% down since previous day close.  A gap-down opening can be seen in INDIA50 as the Covid-19 cases are mounting at an alarming rate with a daily toll crossing 2.61 lakhs; worsening the situation adversely. This might overshadow the strong global cues of fresh record highs formed in U.S markets over adopting accommodative policy all over the world. However, the rigorous attempt of approving an emergency use of Russia’s Sputnik drug may remain positive for INDIA50. The mixed USD & falling U.S Treasury bond yields amid growing inflation fear in U.S may support indices on long run. As seen in the chart, the INDIA50 is consistently trading near lower trend-line of sideways channel & hence, the cautious trading may be suggested for the day.