Dollar index trading at 99.71 (-0.05%)
Strength meter (today so far) – Aussie -0.28%, Kiwi -0.18%, Loonie -0.20%
Strength meter (since last week) – Aussie -0.23%, Kiwi +0.23%, Loonie -0.44%
AUD/USD –
Trading at 0.762
Trend meter –
- Long term – Range, Medium term – Sell, Short term – Range
Support –
- Long term – 0.71, Medium term – 0.73, Short term – 0.75
Resistance –
- Long term – 0.782, Medium term – 0.78, Short term – 0.78
Economic release today –
- NIL
Commentary –
- Strong dollar and weak commodity prices weigh on the Aussie. Aussie is the worst performer of the week so far. Aussie might decline to 0.72 area once more to test support.
NZD/USD –
Trading at 0.701
Trend meter –
- Long term – Sell, Medium term – Buy, Short term – Range
Support –
- Long term – 0.66, Medium term – 0.69, Short term – 0.69
Resistance –
- Long term – 0.8, Medium term – 0.76, Short term – 0.733
Economic release today –
- NIL
Commentary –
- Kiwi is the best performer of the week so far but only flat against the dollar
USD/CAD –
Trading at 1.337
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 –
- Consumer price index rose by 2 percent y/y. Core price is up 1.7 percent y/y.
Commentary –
- Strong economic performance supports loonie while Oil remains a drag.