2 September 2024
Support / Resistance
vs USD 7.0457 / 7.1602 ⬆
vs HKD 1.0887 / 1.1064
CNH rose against the dollar on Friday and the onshore yuan firmed to a two-month high, heading for its biggest monthly jump since Nov 2023 as corporate demand for the currency grows amid heightening expectations for US rate cuts. USDCNH fell 0.05% last Friday while CNHHKD ended at 1.09 level.
Support / Resistance
vs USD 1.0906 / 1.1194 ⬆
vs HKD 8.5215 / 8.7191
EUR fell against the dollar on Friday, and was on track for its largest weekly loss since Apr as the USD strengthened across the board. However, the EUR was on track for its best monthly showing since Nov 2023. EURUSD fell 0.27% last Friday while EURHKD ended at 8.61 level.
Support / Resistance
vs USD 1.2833 / 1.3342 ⬆
vs HKD 10.0230 / 10.3984
GBP ended lower against the dollar on Friday after the release of the US PCE data for July, which came in line with expectation undermining GBP. However GBP to be influenced by speculation over BoE interest rate path. GBPUSD fell 0.32% last Friday while GBPHKD ended at 10.23 level.
Support / Resistance
vs USD 0.6614 / 0.6868 ⬆
vs HKD 5.1556 / 5.3566
AUD fell against the dollar on Friday as the USD rose in response to July's PCE figures. Despite this, the RBA's hawkish stance has limited declines in the AUD, also Copper and iron ore price gains also contributed to AUD upside momentum. AUDUSD fell 0.49%last Friday while AUDHKD ended at 5.27 level.
Support / Resistance
vs USD 0.6048 / 0.6374 ⬆
vs HKD 4.7150 / 4.9707
NZD fell against the dollar on Friday as the USD climbed with UST yields and month-end rebalancing demand. Survey showed NZ's consumer confidence improved in Aug, while business confidence surged to the highest levels in a decade. NZDUSD fell 0.13% last Friday while NZDHKD ended at 4.86 level.
Support / Resistance
vs USD 1.3372 / 1.3681 ⬆
vs HKD 5.7009 / 5.8324
CAD ended lower against the dollar on Friday as the USD strengthened against a basket of currencies while oil prices fell by $1 on rising supplies. However the CAD was on track for its biggest monthly gain since Dec. USDCAD rose 0.07% last Friday while CADHKD ended at 5.78 level.
Support / Resistance
vs USD 143.26 / 149.22 ➡
vs HKD 5.2229 / 5.4389
JPY fell against the dollar on Friday, posting its largest daily loss in two weeks and biggest weekly loss since mid Jun as the USD rebounded and US treasury yields rose, however the yen remained up for a second consecutive month. USDJPY rose 0.81% last Friday while JPYHKD ended at 5.33 level.
Support / Resistance
vs USD 0.8348 / 0.8698 ⬆
vs HKD 8.9574 / 9.3315
CHF weakened against the dollar on Friday as the USD rose broadly after data showed US PCE index rose in line with forecasts while consumer spending and consumer sentiment rose in Aug. USDCHF rose 0.31% last Friday while CHFHKD ended at 9.16 level.
Support / Resistance
vs USD 1.2957 / 1.3210 ⬆
vs HKD 5.9056 / 6.0124
SGD ended lower against the US dollar on Friday as USD strengthened against most major peers and US treasury yields rose after PCE index rose meeting expectations while consumer spending rose in Aug. USDSGD rose 0.30% last Friday while SGDHKD ended at 5.97 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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