Currency snapshot (commodity pairs)

Dollar index trading at 94.95 (+0.03%)

Strength meter (today so far) – Aussie +0.39%, Kiwi +0.04%, Loonie -0.11%

Strength meter (since last week) – Aussie +0.39%, Kiwi +0.04%, Loonie -0.11%

AUD/USD –

Trading at 0.766

Trend meter –

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

Support –

• Long term – 0.746, Medium term – 0.765 (testing), Short term – 0.77 (testing)

Resistance –

• Long term – 0.825, Medium term – 0.825, Short term – 0.8

Economic release today –

• TD securities inflation up 0.3 percent in October, up 2.6 percent from a year ago.  

Commentary –

• Aussie is the best performer of the day as iron ore price jumped in China trading.

NZD/USD –

Trading at 0.69

Trend meter –

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

Support –

• Long term – 0.66, Medium term – 0.68, Short term – 0.68

Resistance –

• Long term – 0.76, Medium term – 0.76, Short term – 0.725

Economic release today –

• RBNZ inflation expectations declined to 2 percent in Q3 from 2.1 percent in Q2.

Commentary –

• Kiwi is marginally higher today.

 USD/CAD –

Trading at 1.276

Trend meter –

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

Support –

• Long term – 1.2, Medium term – 1.22, Short term – 1.246

Resistance –

• Long term – 1.355, Medium term – 1.32, Short term – 1.3

Economic release today –

• IVEY PMI report will be published at 15:00 GMT

Commentary –

• Loonie is down over lumber dispute with the United States despite higher oil price.

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