Currency snapshot (commodity pairs)

Dollar index trading at 95.75 (-0.01%)

Strength meter (today so far) – Aussie +0.60%, Kiwi +1.04%, Loonie -0.04%

Strength meter (since last week) – Aussie +1.91%, Kiwi +0.83%, Loonie +0.82%

AUD/USD –

Trading at 0.773

Trend meter –

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

Support –

• Long term – 0.716, Medium term – 0.735, Short term – 0.746

Resistance –

• Long term – 0.785, Medium term – 0.777, Short term – 0.765 (broken)

Economic release today –

• Consumer inflation expectations rose to 4.4 percent in July.

Commentary –

• Aussie rose further as the dollar weakens. The best performer of the week on improving commodity outlook.

NZD/USD –

Trading at 0.733

Trend meter –

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

Support –

• Long term – 0.67, Medium term – 0.69, Short term – 0.71

Resistance –

• Long term – 0.76, Medium term – 0.73, Short term – 0.73 (testing)

Economic release today –

• NIL

Commentary –

• Kiwi recovered sharply from an earlier loss. The best performer of the day.

 USD/CAD –

Trading at 1.276

Trend meter –

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

Support –

• Long term – 1.26, Medium term – 1.28 (testing), Short term – 1.30 (broken)

Resistance –

• Long term – 1.38, Medium term – 1.35, Short term – 1.32

Economic release today –

• New home price index will be updated at 12:30 GMT

Commentary –

• After the superb performance last two weeks, the loonie is up again this week as BoC increase interest rates.

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