19 August 2024
Support / Resistance
vs USD 7.0701 / 7.2639 ⬆
vs HKD 1.0770 / 1.0988
CNH rose against the dollar on Friday after US yields and housing market data give bears traction. Focus now turns to a decision by the PBOC on its benchmark loan prime rate this week, after it unexpectedly cut rates in July. USDCNH fell 0.24% last Friday while CNHHKD ended at 1.08 level.
Support / Resistance
vs USD 1.0853 / 1.1125 ⬆
vs HKD 8.4753 / 8.6614
EUR strengthened against the dollar on Friday, touching its highest level since Jan 3 last week as the USD eased broadly and US treasury yields fell after a fall in US housing permits and building started hinted at slow growth. EURUSD rose 0.52% last Friday while EURHKD ended at 8.59 level.
Support / Resistance
vs USD 1.2753 / 1.3044 ⬆
vs HKD 9.9381 / 10.1677
GBP rose against the dollar on Friday after healthy growth in UK Retail Sales could diminish bets of a second straight BoE's cut. Inflation in the UK service sector declined sharply in July due to slowing wage growth momentum. GBPUSD rose 0.72% last Friday while GBPHKD ended at 10.08 level.
Support / Resistance
vs USD 0.6446 / 0.6786 ⬆
vs HKD 5.0155 / 5.2937
AUD rose against the dollar on Friday as bolstered by the RBA's hawkish stance after RBA Governor Michelle Bullock emphasized that discussions on rate cuts are premature despite some easing in inflationary pressures. AUDUSD rose 0.82% last Friday while AUDHKD ended at 5.19 level.
Support / Resistance
vs USD 0.5906 / 0.6140 ⬆
vs HKD 4.5965 / 4.7881
NZD rose against the dollar on Friday amid risk-on sentiment despite RBNZ Governor Adrian Orr flagged at least 25 basis points of rate cuts this year. Meanwhile, Firm Fed rate-cut prospects keep the US Dollar’s upside limited. NZDUSD rose 1.15% last Friday while NZDHKD ended at 4.71 level.
Support / Resistance
vs USD 1.3579 / 1.3860 ⬆
vs HKD 5.6131 / 5.7422
CAD strengthened against the dollar on Friday and notched a 2nd straight weekly gain as equity markets held on to their recent gains. Canadian housing starts jump 16% in Jul, however factory sales fell 2.1% m-o-m in Jun. USDCAD fell 0.38% last Friday while CADHKD ended at 5.69 level.
Support / Resistance
vs USD 141.09 / 154.64 ⬆
vs HKD 5.0781 / 5.4848
JPY rose against the dollar on Friday as the dollar softened broadly due to disappointing US housing numbers, however on a weekly basis the yen ended lower losing about 1%, its biggest weekly drop in almost two months. USDJPY fell 1.13% last Friday while JPYHKD ended at 5.27 level.
Support / Resistance
vs USD 0.8435 / 0.8880 ⬆
vs HKD 8.8162 / 9.1977
CHF strengthened against the dollar on Friday as the USD eased against major peers and US treasury yields fell after soft housing market figures. Meanwhile, long serving SNB Chairman Thomas Jordan will be stepping down. USDCHF fell 0.76% last Friday while CHFHKD ended at 8.98 level.
Support / Resistance
vs USD 1.3035 / 1.3363 ⬆
vs HKD 5.8463 / 5.9670
SGD ended stronger against the US dollar on Friday as the USD eased against a basket of currencies and US treasury yields fell after disappointing US housing numbers meanwhile overall market risk sentiment improved. USDSGD fell 0.54% last Friday while SGDHKD ended at 5.91 level.
*Current Trend observations pertain to historical trend technical analysis only and do not reflect any forward looking fundamental views. The signal is generated with both the 20-days moving average and the 50-days moving average.
⬆ Up Trend, indicates that the currency has been moving higher against the USD
➡ Consolidation, indicates that the currency's movement against the USD has remained sideways
⬇ Down Trend, indicates that the currency has been moving lower against the USD
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