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Currency snapshot (commodity pairs)

Dollar index trading at 97.08 (+0.10%)

Strength meter (today so far) – Aussie +0.50%, Kiwi +0.48%, Loonie +0.21%

Strength meter (since last week) – Aussie +0.75%, Kiwi +1.65%, Loonie -0.06%

AUD/USD –

Trading at 0.727

Trend meter –

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

Support –

  • Long term – 0.67, Medium term – 0.67, Short term – 0.69

Resistance –

  • Long term – 0.79 Medium term – 0.75, Short term – 0.732

Economic release today –

  • Consumer inflation expectation declined to 3.6 percent in November, down from 4 percent in October. The unemployment rate unchanged at 5 percent in October, despite a 0.2 percent increase in the participation rate as the economy added 32,800 new jobs in the month.

Commentary –

  • The Australian dollar is likely to decline further as the emerging market woes and the strong dollar continues to dominate but Aussie rose sharply since last two weeks, on broad-based weakness in USD.

NZD/USD -

Trading at 0.682

Trend meter -

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

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 –

  • Business PMI report will be released at 21:30 GMT.

Commentary –

  • The New Zealand dollar remains under pressure as RBNZ vows to keep rate at this level through 2019 and 2020. The best performer since last two weeks on weak USD. Active Call - Sell kiwi targeting 0.59 area.

 USD/CAD –

Trading at 1.321

Trend meter –

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

Support –

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

Resistance –

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

Economic release today –

  • NIL

Commentary –

  • Loonie remains downbeat as lower oil price weigh. Active Call - Sell USD/CAD at 1.314 targeting 1.25 area.
  • Market Data
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