Currency snapshot (commodity pairs)

Dollar index trading at 95.62 (+0.51%)

Strength meter (today so far) – Aussie -0.44%, Kiwi -0.93%, Loonie -0.69%

Strength meter (since last week) – Aussie -0.06%, Kiwi -0.83%, Loonie -1.27%

AUD/USD –

Trading at 0.718

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 –

• Q2 current account balance came at -$13.5 billion.
• RBA kept the policy rate unchanged at today’s meeting at 1.5 percent.

Commentary –

• The Australian dollar is the best performer of the day but gave up earlier gains on strong USD.

NZD/USD -

Trading at 0.654

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 –

• Global dairy price index declined by 0.7 percent at today’s auction.

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 –

• Markit manufacturing PMI declined to 56.8 in August.

Commentary –

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