Currency snapshot (commodity pairs)

Dollar index trading at 95.09 (-0.09%)

Strength meter (today so far) – Aussie +0.49%, Kiwi +0.17%, Loonie -0.41%

Strength meter (since last week) – Aussie +0.49%, Kiwi +0.17%, Loonie -0.41%

AUD/USD –

Trading at 0.722

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 –

• TD securities inflation up 2.1 percent y/y in August.
• Retail sales growth at zero in July.
• Q2 gross profit up 2 percent q/q.

Commentary –

• The Australian dollar is the best performer of the day after last week’s big selloff. Aussie is testing a key resistance.

NZD/USD -

Trading at 0.661

Trend meter -

• Long term – Sell, Medium term – 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 –

• NIL.

Commentary –

• The New Zealand dollar is up today on a weaker dollar. Active Call - Sell kiwi targeting 0.62 area.

 USD/CAD –

Trading at 1.308

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 worst performer of the day, as the U.S. moves ahead in forging an agreement with Mexico with Canada.