Commodity currencies hold lower ahead of North America trading

<p>The dollar is sitting rather mixed across the board but is holding decent gains against the commodity currencies at least, with both the loonie and aussie being the laggards today.</p><p>Despite oil holding higher as OPEC+ meets and Saudi Arabia pledging their commitment to support the market, the Canadian dollar is down 0.5% against the greenback with USD/CAD up to 1.3290 currently. Meanwhile, AUD/USD is down 0.5% to 0.6660 after having brushed against key resistance from its 100 and 200-day moving averages at 0.6690-94 earlier.</p><p>That continues to be a key resistance point for the pair as sellers are looking to snap a run of four straight days of gains since last week.</p><p>The softer mood in equities is part of the reason weighing on risk currencies today. There is more of a defensive flow with 2-year and 10-year Treasury yields also down by 4.6 bps and 1.9 bps respectively at the moment.</p>

This article was written by Justin Low at www.forexlive.com.