Currency snapshot (commodity pairs)

Dollar index trading at 98.31 (+0.10%)

Strength meter (today so far) - Aussie -0.13%, Kiwi -0.48%, Loonie +0.05%

Strength meter (since last week) - Aussie +0.70%, Kiwi +0.68%, Loonie +0.32%

AUD/USD -

Trading at 0.721

Trend meter -

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

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 -

• CB leading economic indicator for October to be released at 23:00 GMT.

Commentary -                                                                               

• Aussie is declined after yesterday's big rally.

NZD/USD -

Trading at 0.677

Trend meter -

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

Support -

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

Resistance -

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

Economic release today -

• M3 money supply rose 8.4% y/y in November.

Commentary -

• Kiwi is worst performer today.

USD/CAD -

Trading at 1.391

Trend meter -

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

Support -

• Long term - 1.285, Medium term - 1.327, Short term - 1.352,

Resistance -

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

Economic release today -

• GDP and retail sales both in October failed to grow.

Commentary -                                   

• Canadian Dollar is best performer today as oil recovered ground.