29 August 2024
Support / Resistance
vs USD 7.0941 / 7.1793 ⬆
vs HKD 1.0860 / 1.0991
CNH fell against the dollar yesterday, poised for a third day of decline with investors citing a risk-off mood ahead of US data and economic challenges at in the Chinese economy. Meanwhile, HK home prices drop faster in July. USDCNH rose 0.17% yesterday while CNHHKD ended at 1.09 level.
Support / Resistance
vs USD 1.0952 / 1.1245 ⬆
vs HKD 8.5397 / 8.7708
EUR weakened against the dollar yesterday as market risk sentiment weakened while the USD rose across the board. Investors await release of eurozone inflation data for Aug for clues about ECB's monetary policy path. EURUSD fell 0.57% yesterday while EURHKD ended at 8.67 level.
Support / Resistance
vs USD 1.2853 / 1.3396 ⬆
vs HKD 10.0232 / 10.4528
GBP fell against the dollar yesterday as the USD recovered broadly with investors focusing on US core PCE data for July due tomorrow. UK economic data remains limited this week, leaving the GBP exposed to broad-market sentiment flows. GBPUSD fell 0.49% yesterday while GBPHKD ended at 10.28 level.
Support / Resistance
vs USD 0.6628 / 0.6877 ⬆
vs HKD 5.1694 / 5.3645
AUD ended lower against the dollar yesterday after the release of Australia's latest inflation data. The soft inflation data has reinforced expectations that the RBA will cut interest rates later this year. AUDUSD fell 0.10% yesterday while AUDHKD ended at 5.29 level.
Support / Resistance
vs USD 0.6056 / 0.6348 ⬆
vs HKD 4.7224 / 4.9524
NZD fell against the dollar yesterday after USD rose broadly amid the uncertainty among market participants as the US core PCE for July comes under the spotlight. This has weighed on risk-sensitive NZD. NZDUSD fell 0.10% yesterday while NZDHKD ended at 4.86 level.
Support / Resistance
vs USD 1.3362 / 1.3674 ⬆
vs HKD 5.6994 / 5.8390
CAD weakened against the dollar yesterday, giving away recent gains and pulling back from a 5-month high as oil prices fell, however on a monthly basis CAD was on track to advance 2.4%, its biggest monthly gain since Jun 2023. USDCAD rose 0.30% yesterday while CADHKD ended at 5.78 level.
Support / Resistance
vs USD 142.20 / 148.16 ⬆
vs HKD 5.2631 / 5.4791
JPY ended lower against the dollar yesterday as the USD strengthened against all major peers on month-end demand. Investor focus moves to release of key US economic data that could dictate the pace and size of Fed rate cut. USDJPY rose 0.43% yesterday while JPYHKD ended at 5.39 level.
Support / Resistance
vs USD 0.8303 / 0.8644 ⬆
vs HKD 9.0203 / 9.3902
CHF ended slightly lower against the dollar yesterday as the USD rose across the board after recent lows due to strong month end buying. Investor focus moves to release of Q2 US GDP data and core PCE index. USDCHF rose 0.08% yesterday while CHFHKD ended at 9.26 level.
Support / Resistance
vs USD 1.2931 / 1.3200 ⬆
vs HKD 5.9055 / 6.0298
SGD ended weaker against the US dollar yesterday as the USD strengthened against a basket of currencies on month-end demand and US treasury yields stayed firm. While global equities eased due to weak market risk sentiment. USDSGD rose 0.18% yesterday while SGDHKD ended at 5.98 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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