Currency snapshot (commodity pairs)

Dollar index trading at 94.66 (-0.25%)

Strength meter (today so far) – Aussie -0.43%, Kiwi -0.53%, Loonie -0.17%

Strength meter (since last week) – Aussie -0.14%, Kiwi -0.42%, Loonie -0.40%

AUD/USD –

Trading at 0.766

Trend meter –

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

Support –

• Long term – 0.746, Medium term – 0.765, Short term – 0.77 (testing)

Resistance –

• Long term – 0.825, Medium term – 0.825, Short term – 0.8

Economic release today –

• HIA new home sales down 6.1 percent in September.
• Private sector credit grew 0.3 percent m/m in September, up 5.4 percent from a year ago.

Commentary –

• Aussie is down this week on weaker than expected economic data, recovering dollar, and weaker commodity price.

NZD/USD –

Trading at 0.684

Trend meter –

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

Support –

• Long term – 0.66, Medium term – 0.68, Short term – 0.68

Resistance –

• Long term – 0.76, Medium term – 0.76, Short term – 0.725

Economic release today –

• Third quarter unemployment report will be released at 21:45 GMT.

Commentary –

• Kiwi is declining steadily since the government change.

 USD/CAD –

Trading at 1.285

Trend meter –

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

Support –

• Long term – 1.2, Medium term – 1.22, Short term – 1.246

Resistance –

• Long term – 1.355, Medium term – 1.32, Short term – 1.3

Economic release today –

• Raw material and industrial product price report will be released at 12:30 GMT, along with August GDP number.
• BoC governor Poloz is scheduled to speak at 19:30 GMT.

Commentary –

• Loonie is the worst performer of the week on NAFTA tension and dovish BoC.

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