Currency snapshot (commodity pairs)

Dollar index trading at 96.47 (-0.25%)

Strength meter (today so far) – Aussie +0.65%, Kiwi +0.63%, Loonie -0.06%

Strength meter (since last week) – Aussie -0.14%, Kiwi +0.46%, Loonie -0.07%

AUD/USD –

Trading at 0.728

Trend meter –

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

Support –

• Long term – 0.7, Medium term – 0.72, Short term – 0.72

Resistance –

• Long term – 0.825, Medium term – 0.79, Short term – 0.76

Economic release today –

• Consumer inflation expectation rose to 4 percent in August survey from 3.9 percent in July.
• The unemployment rate declined by 0.1 percent to 5.3 percent despite net job loss of 3,900 as the participation rate declined by 0.2 percent to 65.5 percent.

Commentary –

• Aussie remains under pressure from a rising dollar and a weakness in China’s economy but covered loss as the dollar declined.

NZD/USD -

Trading at 0.66

Trend meter -

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

Support –

• Long term – 0.62, Medium term – 0.65, Short term – 0.65

Resistance –

• Long term – 0.725, Medium term – 0.7, Short term – 0.675

Economic release today –

• NIL

Commentary –

• The New Zealand dollar is the best performer of the week. Active Call - Sell kiwi targeting 0.62 area.

 USD/CAD –

Trading at 1.315

Trend meter –

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

Support –

• Long term – 1.26, Medium term – 1.29, Short term – 1.3

Resistance –

• Long term – 1.35, Medium term – 1.33, Short term – 1.32

Economic release today –

• Manufacturing shipments up 1.1 percent in June.

Commentary –

• Loonie is upbeat on a stronger economy and NAFTA hope.