Currency snapshot (commodity pairs)

Dollar index trading at 103.13 (+0.08%)

Strength meter (today so far) – Aussie -0.32%, Kiwi -0.01%, Loonie -0.51%

Strength meter (since last week) – Aussie -1.34%, Kiwi -0.96%, Loonie -1.39%

AUD/USD –

Trading at 0.721

Trend meter –

• Long term – Range, Medium term – Sell, Short term – Buy

Support –

• Long term – 0.683, Medium term – 0.72, Short term – 0.73

Resistance –

• Long term – 0.782, Medium term – 0.765, Short term – 0.765

Economic release today –

• NIL

Commentary –

• The Australian dollar is the worst performer of the week so far. Active call – Buy AUD/USD at 0.752 and at dip with the stop loss at 0.71 and the target at 0.82. This call is under threat from a stronger dollar.

NZD/USD –

Trading at 0.69

Trend meter –

• Long term – Sell, Medium term – Buy, Short term – Buy

Support –

• Long term – 0.66, Medium term – 0.69 (broken), Short term – 0.69 (broken)

Resistance –

• Long term – 0.8, Medium term – 0.76, Short term – 0.73

Economic release today –

• Money supply rose by 5.9 percent y/y in November.

Commentary –

• The kiwi tries to forma base at 0.69 area, decline might extend towards 0.675 area.

 USD/CAD –

Trading at 1.35

Trend meter –

• Long term – sell, Medium term – buy, Short term – Range/buy

Support –

• Long term – 1.28, Medium term – 1.3 , Short term – 1.3

Resistance –

• Long term – 1.38, Medium term – 1.365, Short term – 1.365

Economic release today –

• Retail sales rose by 1.1 percent in October, up 1.4 percent excluding automobiles.
• Consumer price index declined by 0.4 percent in November, up 1.2 percent from a year ago. Core price is down 0.5 percent in November, up 1.5 percent from a year ago.

Commentary –   

• Stronger dollar and weaker oil price continues to weigh on growth. We expect the loonie to reach 1.375 and 1.4.