Currency snapshot (commodity pairs)

Dollar index trading at 97.13 (+0.15%)

Strength meter (today so far) – Aussie -0.37%, Kiwi -0.10%, Loonie -0.06%

Strength meter (since last week) – Aussie -0.55%, Kiwi +0.40%, Loonie -0.49%

AUD/USD –

Trading at 0.745

Trend meter –

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

Support –

• Long term – 0.71, Medium term – 0.73, Short term – 0.73

Resistance –

• Long term – 0.782, Medium term – 0.78, Short term – 0.755

Economic release today –

• Capital expenditure is up 0.3 percent in the first quarter.
• Retail sales grew 1 percent in April.

Commentary –

• Aussie became the worst performer of the week as falling commodities add pressure coupled with weaker economic dockets.  Aussie might decline to 0.72 area once more to test support.

NZD/USD –

Trading at 0.711

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 gave up gains but still the best performer of the week.

 USD/CAD –

Trading at 1.347

Trend meter –

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

Support –

• Long term – 1.32, Medium term – 1.33, Short term – 1.35 (testing)

Resistance –

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

Economic release today –

• Manufacturing PMI report will be published at 13:30 GMT.

Commentary –Loonie is down on lower oil price.