US Commodity Futures Trading Commission (CFTC): Hedge funds and other large speculators net long positions in the dollar ended December 22 week increased 26,920 contracts, to 349,144 contracts, but still below the 2015 Top Level – 2015 in January, the dollar net long positions had hit a record high of 448,675 contracts.

Canadian dollar net short positions rose to 56,027 contracts, the highest since the last week of August, a new high, reported by Wall Street CN.

Today, the Census Bureau will report the latest data on the trade balance in November and CB consumer confidence due.

The Standard & Poor’s/Case-Shiller survey of home prices will most likely show that average prices in October were up 5.5 percent from a year ago, in line with the overall trend for 2015. Although existing-home sales unexpectedly dropped in November, according to another report released last week, most economists think that was a temporary dip that was related to new government regulations, according to NYtimes.

The US pending home sales on Wednesday and unemployment claims due on Thursday.

The pair corrects 180 from highs whereas monthly resistance seems at 1.4010 levels May 2004 highs.

Trading support finds at 1.3870, 1.3840 and 1.3800

Resistance seems at 1.3940, 1.3960 and 1.4010

Nick Chamie, who oversees $150 million of assets as chief investment officer at Bank of Nova Scotia’s international wealth management unit, said the dramatic selloff opens the door for a rebound next year. He said oil may have more near-term upside than metals.

Weakness opens below 1.3880 and strengthens below 1.3840 targets at 1.3810 initially later 1.3700 possible.