Currency snapshot (commodity pairs)

Dollar index trading at 101.14 (-0.17%)

Strength meter (today so far) – Aussie +0.60%, Kiwi +0.70%, Loonie -0.17%

Strength meter (since last week) – Aussie +0.85%, Kiwi +1.12%, Loonie -1.09%

AUD/USD –

Trading at 0.755

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 rose to 4.3 percent in January.
• Unemployment rate ticked higher to 5.8 percent.

Commentary –

• The Aussie has burst through the 0.75 area as the dollar weakened. After a big rise yesterday, it is down today on profit booking.

NZD/USD –

Trading at 0.719

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 –

• NIL

Commentary –

• After a big drop after Fed’s Yellen’s comments, kiwi is in recovery mode today.

 USD/CAD –

Trading at 1.329

Trend meter –

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

Support –

• Long term – 1.28, Medium term – 1.3 , Short term – 1.3

Resistance –

• Long term – 1.38, Medium term – 1.365, Short term – 1.365

Economic release today –

• NIL

Commentary –   

• Loonie is the worst performer of the day as oil price declines. We expect the loonie to reach 1.375 and 1.4.