Canada, Australia, and New Zealand are getting slammed

Commodity currencies are getting smoked.

After Monday night's move by China to devalue the yuan by nearly 2%, Australia and New Zealand, two of China's major trading partners, saw their currencies get slammed.

And on Tuesday morning, the kiwi and the Aussie dollar were both extending their losses against the US dollar, with the kiwi down 1.2% to below $0.66 and the Aussie dollar falling 1.6% to below $0.73.

Now with the price of oil sliding to a fresh six-year low, Canada — a major oil exporter that has slipped into recession — is joining the mix as the Canadian loonie is falling near its lows against the dollar that it hit earlier this month.

Meanwhile, stock markets in the US are selling off, and after a rally to start the week, it's choppy in global markets on Tuesday.

Here's the US dollar's rally against the loonie, with the US dollar now buying more than $1.31 Canadian.

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(FinViz)

While the kiwi and the Aussie dollar are continuing their slides.

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(FinViz)

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(FinViz)

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