Currency snapshot (commodity pairs)

Dollar index trading at 98.81 (+0.47%)

Strength meter (today so far) - Aussie -0.75%, Kiwi -0.18%, Loonie -0.78%.

Strength meter (since last week) - Aussie -1.75%, Kiwi -1.72%, Loonie -1.84%.

AUD/USD -

Trading at 0.72

Trend meter -

• Long term - Sell, Medium term - Sell, Short term - Range/sell

Support -

• Long term - 0.63, Medium term - 0.69, Short term - 0.707

Resistance -

• Long term - 0.76, Medium term - 0.738, Short term - 0.738

Economic release today -

• National Australia Bank's business confidence rose to 5 from 2, and business conditions improved to 10 from 9, in November.
• Westpac consumer confidence to be released at 23:30 GMT.

Commentary -                                                                               

• Aussie dropped as Chinese import slowed down further in November.

NZD/USD -

Trading at 0.662

Trend meter -

• Long term - Sell, Medium term - Range/sell, Short term - Range/sell

Support -

• Long term - 0.56, Medium term - 0.618, Short term - 0.643

Resistance -

• Long term - 0.7, Medium term - 0.68, Short term - 0.68

Economic release today -

• NIL

Commentary -

• Kiwi is the best performer of the week so far.

USD/CAD -

Trading at 1.361

Trend meter -

• Long term - Buy, Medium term - Range, Short term - Range/buy

Support -

• Long term - 1.285, Medium term - 1.302, Short term - 1.322,

Resistance -

• Long term - 1.4, Medium term - 1.36, Short term - 1.343

Economic release today -

• Housing starts in November improved to 211,900.
• Building permits to be released at 13:30 GMT.

Commentary -                                                                                         

• Canadian Dollar dropped to 11 year low as oil price dropped to lowest level since February 2009.