Currency snapshot (commodity pairs)

Dollar index trading at 94.59 (-0.01%)

Strength meter (today so far) – Aussie -0.43%, Kiwi -0.84%, Loonie -0.64%

Strength meter (since last week) – Aussie -0.49%, Kiwi -0.39%, Loonie +0.25%

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 –

• Private capital expenditure down 2.5 percent in Q1. Building permits down 5.6 percent in July.

Commentary –

• The Australian dollar gave up earlier gains as the emerging market turmoil takes toll.

NZD/USD -

Trading at 0.665

Trend meter -

• Long term – Sell, Medium term – a 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 –

• ANZ activity outlook unchanged in August at 3.8 percent. ANZ business confidence declined further to -50.3 in August from -44.9 in July.

Commentary –

• The New Zealand dollar is moving lower along with the Aussie. Active Call - Sell kiwi targeting 0.62 area.

 USD/CAD –

Trading at 1.299

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 –

• NIL

Commentary –

• Loonie is the best performer of the week on NAFTA hopes.