21 August 2024
Support / Resistance
vs USD 7.0453 / 7.2214 ⬆
vs HKD 1.0811 / 1.1029
CNH rose against the dollar yesterday as the USD fell to a seven-month low on growing expectations the Fed will cut interest rates next month. Meanwhile China held key lending benchmarks unchanged, as expected. USDCNH fell 0.24% yesterday while CNHHKD ended at 1.09 level.
Support / Resistance
vs USD 1.0893 / 1.1250 ⬆
vs HKD 8.5026 / 8.7517
EUR ended stronger against the dollar yesterday, touching a fresh 8-month high and rallying above the 1.1100 level in early trading. Eurozone's current account surplus widened to over 50bn euros in June. EURUSD rose 0.41% yesterday while EURHKD ended at 8.66 level.
Support / Resistance
vs USD 1.2777 / 1.3167 ⬆
vs HKD 9.9531 / 10.2541
GBP rose against the dollar yesterday, posted a fresh 13-month high as USD eased broadly. GBP gained support on expectations that the policy-easing cycle from the BOE will be slower than that of other central banks. GBPUSD rose 0.32% yesterday while GBPHKD ended at 10.14 level.
Support / Resistance
vs USD 0.6474 / 0.6880 ⬆
vs HKD 5.0358 / 5.3615
AUD ended higher against the dollar yesterday as USD fell broadly on Fed rate cut expectation. AUD maintained its strength due to the hawkish guidance by the RBA, and investors await RBA August meeting minutes. AUDUSD rose 0.19% yesterday while AUDHKD ended at 5.25 level.
Support / Resistance
vs USD 0.5946 / 0.6260 ⬆
vs HKD 4.6253 / 4.8787
NZD rose against the dollar yesterday, gathered strength to ten-week highs on weaker USD. The improved risk sentiment after China rolled out further measures to support the real estate sector boosted NZD. NZDUSD rose 0.64% yesterday while NZDHKD ended at 4.79 level.
Support / Resistance
vs USD 1.3498 / 1.3842 ⬆
vs HKD 5.6180 / 5.7701
CAD rose against the dollar yesterday as the USD eased broadly, however gains were limited by a fall in oil prices. Canadian headline CPI dropped to 2.5% from 2.7% matching expectations and supports a third straight BoC rate cut. USDCAD fell 0.12% yesterday while CADHKD ended at 5.71 level.
Support / Resistance
vs USD 140.98 / 150.21 ⬆
vs HKD 5.1975 / 5.5065
JPY ended stronger against the dollar yesterday, hovering closer to a near two-week high it had reached in the previous session. Investors focus will be on BOJ Governor Ueda's appearance in parliament on Friday. USDJPY fell 0.90% yesterday while JPYHKD ended at 5.36 level.
Support / Resistance
vs USD 0.8385 / 0.8741 ⬆
vs HKD 8.9296 / 9.2653
CHF strengthened against the dollar yesterday as the USD eased against a basket of currencies with markets focused on comments from Fed chair Jerome Powell later this week. CHF also rose against other major currencies. USDCHF fell 1.01% yesterday while CHFHKD ended at 9.11 level.
Support / Resistance
vs USD 1.2924 / 1.3272 ⬆
vs HKD 5.8780 / 6.0137
SGD strengthened against the US dollar yesterday as the USD eased across the board and US treasury yields dropped ahead of Jackson Hole meet as investors looked for further hints on Sep rate cut by the Fed. USDSGD fell 0.28% yesterday while SGDHKD ended at 5.96 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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