10 Febuary 2025
Support / Resistance
vs USD 7.2271 / 7.3564 ⬇
vs HKD 1.0590 / 1.0769
CNH ended lower against the US dollar as focus remains on Sino-US trade relations. The PBOC set its guidance on the firmer side of market projections since Nov, meanwhile yield differential between the US and China hit the widest level on record. USDCNH rose 0.20% last Friday while CNHHKD ended at 1.06 level.
Support / Resistance
vs USD 1.0171 / 1.0561 ⬇
vs HKD 7.9606 / 8.2033
EUR ended lower against the US dollar on Friday as the USD strengthened across the board and with tariffs regaining the spotlight after US President Trump said he plans on announcing reciprocal tariffs on many countries without naming them. EURUSD fell 0.53% last Friday while EURHKD ended at 8.02 level.
Support / Resistance
vs USD 1.2211 / 1.2604 ➡
vs HKD 9.5068 / 9.8135
GBP ended lower against the US dollar despite regaining some lost ground after sliding on BOE rate cut and gloomy forecasts. Data showed UK house prices rose more than expected last month, although the figures did little to move sterling. GBPUSD fell 0.27% last Friday while GBPHKD ended at 9.64 level.
Support / Resistance
vs USD 0.6135 / 0.6380 ➡
vs HKD 4.7800 / 4.9668
AUD ended lower against the US dollar on Friday as focus moves to Trump saying he plans to announce reciprocal tariffs on many countries and impose 25% tariffs on all steel and aluminum imports to the US which might hit Australian exports. AUDUSD fell 0.14%last Friday while AUDHKD ended at 4.86 level.
Support / Resistance
vs USD 0.5552 / 0.5760 ⬇
vs HKD 4.3257 / 4.4842
NZD ended weaker against the US dollar on Friday as the USD strengthened broadly. The RBNZ is considered almost certain to cut its cash rate by 50 bps at its meeting on Feb 19, followed by a quarter point cut in Apr and Jul. NZDUSD fell 0.26% last Friday while NZDHKD ended at 4.39 level.
Support / Resistance
vs USD 1.4114 / 1.4648 ⬆
vs HKD 5.3206 / 5.5098
CAD rose against the USD on Friday and posted its biggest weekly gain in 23 months, advancing 1.7% for the week as stronger-than-expected domestic jobs data kept expectations in check for another Bank of Canada interest rate cut in Mar. USDCAD fell 0.10% last Friday while CADHKD ended at 5.42 level.
Support / Resistance
vs USD 149.34 / 155.15 ⬆
vs HKD 5.0199 / 5.2093
JPY continued to remain strong against the dollar on Friday and hovered near 151 level for the first time since Dec 10 on bets that the Bank of Japan will raise rates more than previous expected this year, supported by wage data earlier in the week. USDJPY rose 0.00% last Friday while JPYHKD ended at 5.14 level.
Support / Resistance
vs USD 0.8941 / 0.9175 ⬇
vs HKD 8.4879 / 8.7012
CHF ended weaker against the US dollar on Friday as the USD strengthened across the board as focus moves back to US tariffs after US President Donald Trump reiterated imminent threat of reciprocal tariffs on many countries, without naming them. USDCHF rose 0.54% last Friday while CHFHKD ended at 8.55 level.
Support / Resistance
vs USD 1.3380 / 1.3665 ➡
vs HKD 5.6978 / 5.8169
SGD ended weaker against the US dollar on Friday as the USD rose across the board and US treasury yields rose on strong jobs data revisions and a decline in unemployment rate despite headline jobs gains missing economists' expectations. USDSGD rose 0.25% last Friday while SGDHKD ended at 5.74 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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