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Commodity pairs (AUD, NZD, & CAD) covered losses & gained against dollar so far this week. A chart and table is attached for explanation.
- Aussie volatility increased as China opened today after closing over New Year. Today's wage data showed stable rise of 0.6% mom & 2.5% YoY. Data for Construction work fell by -0.2% but at a lower rate than previous -2.8%. The pair is trading at 0.789. Immediate Support lies at 0.762 & Resistance 0.792.
- Kiwi fared well after the comments from FED governor Janet Yellen. The pair is yet to break its resistance. Trade data to be released later today remain the focus. Pair is trading at 0.755 Immediate Support lies at 0.742 & Resistance 0.762.
- Canadian dollar is the best performer after the comments from the BOC governor watered the hopes of a rate cut in its immediate meeting on fourth March. The pair is currently trading at 1.240. Immediate Support lies at 1.235 & Resistance 1.272.
|
AUD |
0.59% |
|
NZD |
0.52% |
|
CAD |
1.09% |
