Currency snapshot (commodity pairs)

Dollar index trading at 98.83 (-0.06%)

Strength meter (today so far) - Aussie +0.27%, Kiwi -0.67%, Loonie -0.08%

Strength meter (since last week) - Aussie +0.09%, Kiwi -1.56%, Loonie -1.34%

AUD/USD -

Trading at 0.695

Trend meter -

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

Support -

• Long term - 0.68, Medium term - 0.69, Short term - 0.7

Resistance -

• Long term - 0.74, Medium term - 0.738, Short term - 0.738

Economic release today -

• Unemployment rate for December came at 5.8%

Commentary -                                                                               

• Aussie is down as risk aversion refuses to settle down over China.

NZD/USD -

Trading at 0.644

Trend meter -

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

Support -

• Long term - 0.56, Medium term - 0.62, Short term - 0.643

Resistance -

• Long term - 0.7, Medium term - 0.69, Short term - 0.69

Economic release today -

• NIL

Commentary -

• Kiwi is worst performer this week.

USD/CAD -

Trading at 1.436

Trend meter -

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

Support -

• Long term - 1.285, Medium term - 1.385, Short term - 1.395,

Resistance -

• Long term - 1.5, Medium term - 1.45, Short term - 1.42

Economic release today -

• NIL

Commentary -                                                                                         

• Canadian Dollar remains weak due to lower oil price.