Currency snapshot (commodity pairs)

Dollar index trading at 98.77 (+0.49%)

Strength meter (today so far) - Aussie +0.07%, Kiwi -0.23%, Loonie +0.09%

Strength meter (since last week) - Aussie -3.72%, Kiwi -3.41%, Loonie -1.92%

AUD/USD -

Trading at 0.70

Trend meter -

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

Support -

• Long term - 0.68, Medium term - 0.69, Short term - 0.7

Resistance -

• Long term - 0.74, Medium term - 0.738, Short term - 0.738

Economic release today -

• Retail sales rose by 0.4% in November.

Commentary -                                                                               

• Aussie remains weaker over turmoil in China and major selloff in Yuan. Worst performer this week but recovered from abating risk aversion today.

NZD/USD -

Trading at 0.658

Trend meter -

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

Support -

• Long term - 0.56, Medium term - 0.62, Short term - 0.643

Resistance -

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

Economic release today -

• NIL

Commentary -

• Kiwi is worst performer today.

USD/CAD -

Trading at 1.411

Trend meter -

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

Support -

• Long term - 1.285, Medium term - 1.385, Short term - 1.395,

Resistance -

• Long term - 1.5, Medium term - 1.45, Short term - 1.42

Economic release today -

• Employment in December rose by 22,800. Unemployment rate at 7.1%.

Commentary -                                                                                         

• Canadian Dollar remains weak due to lower oil price.