Currency snapshot (commodity pairs)

Dollar index trading at 98.62 (-0.23%)

Strength meter (today so far) – Aussie -0.26%, Kiwi -0.41%, Loonie -0.30%

Strength meter (since last week) – Aussie +0.43%, Kiwi +0.01%, Loonie +0.21%

AUD/USD –

Trading at 0.76

Trend meter –

• Long term – Range, Medium term – Sell, Short term – Buy

Support –

• Long term – 0.683, Medium term – 0.72, Short term – 0.73

Resistance –

• Long term – 0.782, Medium term – 0.765, Short term – 0.765

Economic release today –

• Consumer inflation expectations declined to 3.2 percent in November, compared to 3.7 percent a year ago.
• Home loans in September rose by 1.6 percent. Investment lending for homes rose by 4.6 percent.

Commentary –

• The Australian dollar is the best performer today and this week but once again failed to clear key resistance. Active call – Buy AUD/USD at 0.752 and at dip with the stop loss at 0.71 and the target at 0.82

NZD/USD –

Trading at 0.718

Trend meter –

• Long term – Sell, Medium term – Buy, Short term – Buy

Support –

• Long term – 0.66, Medium term – 0.69, Short term – 0.69

Resistance –

• Long term – 0.8, Medium term – 0.76, Short term – 0.73

Economic release today –

• Food price index for October will be released at 21:45 GMT, followed by Business PMI at 23:00 GMT.

Commentary –

• Kiwi is the worst performer of the week. We expect kiwi to rise towards 0.81 area.

 USD/CAD –

Trading at 1.351

Trend meter –

• Long term – sell, Medium term – buy, Short term – Range/buy

Support –

• Long term – 1.248, Medium term – 1.25 , Short term – 1.25

Resistance –

• Long term – 1.38, Medium term – 1.345, Short term – 1.345

Economic release today –

• BoC governor poloz is scheduled to speak at 14:50 GMT.

Commentary –                    

• Loonie continues to remain volatile in line with oil prices. We expect the loonie to reach 1.375 and 1.4.