Currency snapshot (commodity pairs)

Dollar index trading at 99.32 (+0.48%)

Strength meter (today so far) - Aussie -0.19%, Kiwi -0.26%, Loonie +0.08%

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 -

• AIG performance of services index to be released at 22:30 GMT.

Commentary -                                                                               

• Aussie remains weaker over selloffs in Chinese stock market and weaker economic release.

NZD/USD -

Trading at 0.673

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 -

• Dairy auction scheduled for today.

Commentary -

• Kiwi is worst performer today

USD/CAD -

Trading at 1.392

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 -

• Raw material price index dropped -4% in November, while industrial product price dropped -0.2%

Commentary -                                                                                         

• Canadian Dollar lost ground as oil price failed to gain over Middle East tensions.