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 - EconoTimes)
Dollar performed well against the commodity pairs (EUR, GBP, JPY, & CHF) so far this week. A chart and table is attached for explanation.
- Aussie failed to break above weekly resistance. Its major trading partner china remains closed over New Year. Until tomorrow. Tomorrows wage inflation data will remain key focus. The outlook remains bearish as RBA has sought to ease interest rate. The pair is trading at 0.775. Immediate Support lies at 0.762 & Resistance 0.79.
- Kiwi fared well on hawkish outlook of RBNZ but lower inflation & fall in commodity price remain concern. The failed to break above resistance of 0.76 and looks to be continuing its fall. Pair is trading at 0.745 Immediate Support lies at 0.729 & Resistance 0.762.
- Canada remains a very robust and diverse economy. The Canadian dollars remain positive over the growth prospect of USA but facing strong headwinds from the oil revenue fall & dovish BOC. The pair is currently trading at 1.2637. Immediate Support lies at 1.235 & Resistance 1.272.
|
AUD |
-1.12% |
|
NZD |
-0.81% |
|
CAD |
-0.79% |
