Currency snapshot (commodity pairs)

Dollar index trading at 90.68 (-0.33%)

Strength meter (today so far) – Aussie +0.18%, Kiwi +0.28%, Loonie +0.04%

Strength meter (since last week) – Aussie +0.95%, Kiwi +0.62%, Loonie +0.14%

AUD/USD –

Trading at 0.798

Trend meter –

• Long term – Range/Buy, Medium term – Buy, Short term – Range/Sell

Support –

• Long term – 0.746, Medium term – 0.75, Short term – 0.765

Resistance –

• Long term – 0.825, Medium term – 0.8, Short term – 0.78 (broken)

Economic release today –

• Unemployment rose by 0.1 percent to 5.5 percent as the participation rate ticked up by 0.2 percent to 65.7 percent. Employment rose by 34,700.

Commentary –

• Aussie is the best performer of the week on upbeat Chinese data.

NZD/USD -

Trading at 0.729

Trend meter –

• Long term – Sell, Medium term – Sell, Short term – Range/Sell

Support –

• Long term – 0.66, Medium term – 0.68, Short term – 0.69

Resistance –

• Long term – 0.76, Medium term – 0.735, Short term – 0.725 (broken)

Economic release today –

• Business PMI report for December will be released at 21:30 GMT.

Commentary –

• Kiwi is the up on weaker dollar this week.

 USD/CAD –

Trading at 1.244

Trend meter –

• Long term – sell, Medium term – sell, Short term – Range/Buy

Support –

• Long term – 1.2, Medium term – 1.22, Short term – 1.246 (testing)

Resistance –

• Long term – 1.355, Medium term – 1.32, Short term – 1.30

Economic release today –

• NIL

Commentary –

• Loonie is the worst performer of the week as NAFTA tensions continue.

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