Currency snapshot (commodity pairs)

Dollar index trading at 100.61 (+0.16%)

Strength meter (today so far) – Aussie -0.29%, Kiwi +0.29%, Loonie -0.46%

Strength meter (since last week) – Aussie -0.29%, Kiwi +0.29%, Loonie -0.46%

AUD/USD –

Trading at 0.76

Trend meter –

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

Support –

• Long term – 0.71, Medium term – 0.73, Short term – 0.75

Resistance –

• Long term – 0.782, Medium term – 0.78, Short term – 0.78

Economic release today –

• TD securities inflation came at 2.2 percent y/y in March.
• Retail sales declined by 0.1 percent in March.
• Building permits down 4.9 percent y/y in February, up 8.3 percent on a monthly basis.

Commentary –

• Aussie is struggling to gain grounds; today hit by weaker retail sales report. Aussie might decline to 0.72 area once more to test support.

NZD/USD –

Trading at 0.699

Trend meter –

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

Support –

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

Resistance –

• Long term – 0.8, Medium term – 0.76, Short term – 0.733

Economic release today –

• NZIER will publish the first quarter business confidence at 21:00 GMT.

Commentary –

• Kiwi is the best performer of the day.

 USD/CAD –

Trading at 1.335

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 –

• RBC manufacturing PMI report will be published at 13:30 GMT.

Commentary –   

• Loonie is giving up last week’s gains on weaker oil price.