Currency snapshot (commodity pairs)

Dollar index trading at 98.72 (+0.01%)

Strength meter (today so far) - Aussie -1.51%, Kiwi -1.17%, Loonie -0.46%

Strength meter (since last week) - Aussie -1.51%, Kiwi -1.17%, Loonie -0.46%

AUD/USD -

Trading at 0.717

Trend meter -

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

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 -

• NIL

Commentary -                                                                               

• Aussie dropped sharply as weaker economic release from China took toll.

NZD/USD -

Trading at 0.675

Trend meter -

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

Support -

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

Resistance -

• Long term - 0.7, Medium term - 0.69, Short term - 0.69

Economic release today -

• NIL

Commentary -

• Kiwi dropped more than a percent to start off the year.

USD/CAD -

Trading at 1.389

Trend meter -

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

Support -

• Long term - 1.285, Medium term - 1.327, Short term - 1.352,

Resistance -

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

Economic release today -

• RBC manufacturing PMI came at 47.5 for December.

Commentary -                                                                                         

• Canadian Dollar down but better performer due to rise in oil price.