Currency snapshot (commodity pairs)

Dollar index trading at 100.03 (-0.24%)

Strength meter (today so far) – Aussie -0.52%, Kiwi +0.05%, Loonie -0.20%

Strength meter (since last week) – Aussie +0.00%, Kiwi +1.23%, Loonie +1.36%

AUD/USD –

Trading at 0.755

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 –

• Consumer price index rose by 0.5 percent in the fourth quarter, up 1.5 percent from a year ago. RBA trimmed mean CPI is up 1.6 percent from a year ago.

Commentary –

• The Aussie is hovering above key support area of 0.75, but is the worst performer of the day.

NZD/USD –

Trading at 0.725

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 –

• Fourth quarter Consumer price index data will be released at 21:45 GMT.
• RBNZ governor Wheeler is scheduled to speak at 23:00 GMT.

Commentary –

• After previous failure at the resistance area around 0.72, Kiwi has broken above the resistance on weaker dollar.

 USD/CAD –

Trading at 1.313

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 –

• NIL

Commentary –   

• Loonie is up on weaker dollar and firmer oil price. We expect the loonie to reach 1.375 and 1.4.