Currency snapshot (commodity pairs)

Dollar index trading at 102.22 (-0.02%)

Strength meter (today so far) – Aussie +0.82%, Kiwi +0.88%, Loonie -0.05%

Strength meter (since last week) – Aussie +0.82%, Kiwi +0.88%, Loonie -0.05%

AUD/USD –

Trading at 0.734

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 –

• Building permits rose by 7 percent m/m in November, down 4.8 percent from a year ago.

Commentary –

• Australian dollar is the best performer among all major currencies against the dollar on support from metal prices.

NZD/USD –

Trading at 0.699

Trend meter –

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

Support –

• Long term – 0.66, Medium term – 0.69, Short term – 0.69

Resistance –

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

Economic release today –

• NIL

Commentary –

• Kiwi likely to have find a key support around 0.69 area.

 USD/CAD –

Trading at 1.324

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 –

• Bank of Canada will release business outlook survey at 15:30 GMT.

Commentary –   

• Loonie is testing key support around 1.32 area. We expect the loonie to reach 1.375 and 1.4.