Currency snapshot (commodity pairs)

Dollar index trading at 95.05 (-0.06%)

Strength meter (today so far) – Aussie -0.02%, Kiwi -0.08%, Loonie -0.30%

Strength meter (since last week) – Aussie +0.14%, Kiwi -0.08%, Loonie -1.48%

AUD/USD –

Trading at 0.719

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 (broken)

Resistance –

• Long term – 0.825, Medium term – 0.79, Short term – 0.76

Economic release today –

• Exports declined by 1 percent in July with no growth in imports. July trade balance came at $1.551 billion.

Commentary –

• The Australian dollar is the best performer of the week on strong GDP as strong dollar weighs.

NZD/USD -

Trading at 0.659

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 only marginally down this week. Active Call - Sell kiwi targeting 0.62 area.

 USD/CAD –

Trading at 1.321

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 (testing)

Economic release today –

• Building permits down 0.1 percent in July.

Commentary –

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