Divergent Performance in the Commodity Currencies

The commodity currencies behaved very differently today with the Australian and Canadian dollars falling against the greenback but the New Zealand dollar rising against it.

The only piece of economic data released from any of these 3 countries is New Zealand money supply which was actually weaker than expected. Commodity prices do not explain the move since gold prices increased over $10 while oil prices fell. In the week ahead, we do not have any New Zealand economic data, but we are expecting Australian manufacturing and service sector PMI along with Canadian raw material prices and IVEY PMI.