9 September 2024
Support / Resistance
vs USD 7.0580 / 7.1371 ⬆
vs HKD 1.0920 / 1.1040
CNH fell against the dollar on Friday after the USD recovered. Investors are cautious ahead of U.S. CPI, which could determine the size and speed of any upcoming U.S. interest rate cuts. USDCNH rose 0.05% last Friday while CNHHKD ended at 1.09 level.
Support / Resistance
vs USD 1.1005 / 1.1181 ⬆
vs HKD 8.5811 / 8.7152
EUR fell against the dollar on Friday after a sharp recovery in the USD. Also the EUR was undermined after Eurozone Q2 GDP was revised lower, and German and French July industrial production fell more than expected. EURUSD fell 0.24% last Friday while EURHKD ended at 8.63 level.
Support / Resistance
vs USD 1.2974 / 1.3269 ⬆
vs HKD 10.1065 / 10.3519
GBP fell against the dollar on Friday amid mixed US economic data. US Employment figures showed that the labor market is slowing down. Vacancies fell more than expected, and private job growth slowed. GBPUSD fell 0.39% last Friday while GBPHKD ended at 10.23 level.
Support / Resistance
vs USD 0.6608 / 0.6777 ➡
vs HKD 5.1508 / 5.2844
AUD fell against the dollar on Friday, following the release of the US NFP report for August. However, the hawkish stance of the RBA, suggests that no imminent rate cuts are likely, which might limit the downside to AUD. AUDUSD fell 1.04%last Friday while AUDHKD ended at 5.19 level.
Support / Resistance
vs USD 0.6087 / 0.6280 ⬆
vs HKD 4.7414 / 4.8979
NZD fell against the dollar on Friday after the USD recovered. Downside risks to US job market appears to be escalating as new job vacancies and labor demand in the private sector have slowed down significantly. NZDUSD fell 0.77% last Friday while NZDHKD ended at 4.80 level.
Support / Resistance
vs USD 1.3459 / 1.3662 ⬆
vs HKD 5.6982 / 5.7944
CAD fell against the dollar on Friday after the release of US and Canada employment data. CAD depreciated after Canada's unemployment rate edged up to 6.6% in August, prompting economists to call for larger rate cuts. USDCAD rose 0.50% last Friday while CADHKD ended at 5.74 level.
Support / Resistance
vs USD 140.25 / 145.82 ⬆
vs HKD 5.3437 / 5.5538
JPY rose against the dollar on Friday and climbed to a new 1-month high after disappointing US NFP data. Friday’s drop in the Nikkei Stock Index to a 3-week low and hawkish comments from former BOJ Governor Kuroda supported JPY. USDJPY fell 0.82% last Friday while JPYHKD ended at 5.48 level.
Support / Resistance
vs USD 0.8323 / 0.8583 ⬆
vs HKD 9.0744 / 9.3595
CHF rose against the dollar on Friday as risk-averse market sentiment improved CHF's safe-haven appeal. The SNB is expected to cut interest rates again this month as inflationary pressures in the Swiss region continue to decline. USDCHF fell 0.14% last Friday while CHFHKD ended at 9.23 level.
Support / Resistance
vs USD 1.2943 / 1.3110 ⬆
vs HKD 5.9457 / 6.0183
SGD fell against the dollar yesterday as USD recovered despite the release of August NFP data which came in mixed. Investors are awaiting this week's economic data release for more cues on Fed's interest rate path. USDSGD rose 0.18% 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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