Currency snapshot (commodity pairs)

Dollar index trading at 96.59 (-0.32%)

Strength meter (today so far) - Aussie -0.70%, Kiwi -0.78%, Loonie +1.05%.

Strength meter (since last week) - Aussie -0.94%, Kiwi -0.30%, Loonie +0.23%.

AUD/USD -

Trading at 0.714

Trend meter -

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

Support -

• Long term - 0.60, Medium term - 0.69, Short term - 0.719-717

Resistance -

• Long term - 0.82, Medium term - 0.785 -0.79, Short term - 0.74

Economic release today -

• RBA's preferred trimmed mean inflation dropped to 2.1%, lowest in three years.

Commentary -                                                                               

• Aussie Dollar dropped sharply as inflation surprised to the downside, pushing rate cut bet higher.

NZD/USD -

Trading at 0.672

Trend meter -

• Long term - Sell, Medium term - Range/sell, Short term - Range/Buy

Support -

• Long term - 0.56, Medium term - 0.625, Short term - 0.66

Resistance -

• Long term - 0.77, Medium term - 0.725, Short term - 0.7

Economic release today -

• RBNZ is scheduled to announce policy measure today at 20:00 GMT.

Commentary -

• Kiwi is the best performer of the week so far. Focus on FOMC tomorrow.

USD/CAD -

Trading at 1.313

Trend meter -

• Long term - Buy, Medium term - Range, Short term - Range

Support -

• Long term - 1.19, Medium term - 1.28, Short term - 1.303,

Resistance -

• Long term - 1.38, Medium term - 1.35, Short term - 1.34

Economic release today -

• NIL

Commentary -                                                                                         

• Loonie turned out to be the best performer of the week as oil price jumped back sharply.