Currency snapshot (commodity pairs)

Dollar index trading at 99.06 (-0.53%)

Strength meter (today so far) - Aussie +0.04%, Kiwi +0.56%, Loonie -0.37%

Strength meter (since last week) - Aussie +0.04%, Kiwi +0.56%, Loonie -0.37%

AUD/USD -

Trading at 0.708

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 -

• RBA commodity index dropped -25.8% in January.

Commentary -                                                                               

• Aussie's is flat today. Focus is on RBA policy tomorrow.

NZD/USD -

Trading at 0.651

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 best performer today to start the week.

USD/CAD -

Trading at 1.402

Trend meter -

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

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 -

• RBC manufacturing PMI improved to 49.3 in January from 47.5 in December.

Commentary -                                                                                         

• Canadian Dollar reversed last week's gains as oil price drop.