Investors are turning their attention to the highly anticipated May US Consumer Price Index (CPI) report, a release that could shape expectations for the Federal Reserve's next move.

📌 What to Watch:
A stronger-than-expected CPI reading could revive Fed rate hike expectations, supporting the US Dollar while pressuring Gold and US equities.
Softer inflation data may weaken the Dollar and boost risk assets, including precious metals.

Market Highlights
🇺🇸 USD: Inflation data remains the primary catalyst.
🇨🇦 CAD: Traders await the Bank of Canada's rate decision for fresh direction.
🛢️ WTI Oil: Prices remain under pressure despite renewed Middle East tensions.
📈 US Equities: Markets send mixed signals as investors reassess growth and inflation prospects.

Technical Levels to Watch

USD/CAD
Resistance: 1.4020, 1.4145
Support: 1.3880, 1.3730

WTI Crude Oil
Resistance: 98.50, 103.65
Support: 88.60, 82.00

Outlook
Today's CPI release could determine whether the US Dollar extends its gains or retreats, with ripple effects expected across Gold, Oil, and global equity markets. Traders should prepare for increased volatility and manage risk accordingly.