Currency snapshot (commodity pairs)

Dollar index trading at 99.41 (+0.84%)

Strength meter (today so far) - Aussie +0.04%, Kiwi +0.17%, Loonie -0.09%

Strength meter (since last week) - Aussie +1.26%, Kiwi +0.03%, Loonie +0.53%

AUD/USD -

Trading at 0.709

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 -

• Private sector credit rose 6.6% in December from a year ago.

Commentary -                                                                               

• Aussie's is best performer this week.

NZD/USD -

Trading at 0.649

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 as dovish RBNZ taking its toll.

USD/CAD -

Trading at 1.404

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 -

• Raw material price index dropped -5% in December.
• Industrial product price dropped -0.2% in December.
• GDP rose 0.3% in November.

Commentary -                                                                                         

• Canadian Dollar flat today as oil gain stalled.