Currency snapshot (commodity pairs)

Dollar index trading at 99.06 (+0.05%)

Strength meter (today so far) – Aussie +0.33%, Kiwi +0.16%, Loonie -0.04%

Strength meter (since last week) – Aussie +0.33%, Kiwi +0.16%, Loonie -0.04%

AUD/USD –

Trading at 0.751

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 –

• TD securities inflation grew by 2.6 percent y/y in April.

Commentary –

• Aussie started the week on a positive footing after selloffs last week. Aussie might decline to 0.72 area once more to test support.

NZD/USD –

Trading at 0.687

Trend meter –

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

Support –

• Long term – 0.66, Medium term – 0.67, Short term – 0.67

Resistance –

• Long term – 0.76, Medium term – 0.73, Short term – 0.723

Economic release today –

• NIL

Commentary –

• Kiwi is marginally higher today after a big selloff last week.

 USD/CAD –

Trading at 1.365

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 –

• RBC manufacturing PMI report will be released at 13:30 GMT.

Commentary –   

• Loonie is the worst performer of the day.