Currency snapshot (commodity pairs)

Dollar index trading at 98.02 (+0.11%)

Strength meter (today so far) - Aussie +0.58%, Kiwi +1.48%, Loonie +0.10%.

Strength meter (since last week) - Aussie +2.31%, Kiwi +3.86%, Loonie +0.26%.

AUD/USD -

Trading at 0.735

Trend meter -

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

Support -

• Long term - 0.63, Medium term - 0.69, Short term - 0.707

Resistance -

• Long term - 0.76, Medium term - 0.738, Short term - 0.738

Economic release today -

• Retail sales rose 0.5% in October.

Commentary -                                                                               

• Aussie traded higher over weaker Dollar. Likely to target 0.74 area in the shorter term.

NZD/USD -

Trading at 0.678

Trend meter -

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

Support -

• Long term - 0.56, Medium term - 0.618, Short term - 0.643

Resistance -

• Long term - 0.7, Medium term - 0.68, Short term - 0.663 (broken)

Economic release today -

• ANZ commodity prices dropped -5.6% in November.

Commentary -

• Kiwi is the best performer of the week and today.

USD/CAD -

Trading at 1.333

Trend meter -

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

Support -

• Long term - 1.285, Medium term - 1.302, Short term - 1.322,

Resistance -

• Long term - 1.4, Medium term - 1.36, Short term - 1.343

Economic release today -

• Unemployment rate ticked up to 7.1% as 35,700 jobs were lost.
• IVEY PMI rose to 57.9 in November from 52.3 prior.

Commentary -                                                                                         

• Canadian Dollar is worst performer of the week, as oil price weighs in.