23 Jul 2024
Support / Resistance
vs USD 0.6603 / 0.6739 ⬇
AUD fell against the dollar yesterday as investors risk appetite weakened due to uncertainty over the US Presidential elections and an unexpected rate-cut by the PBoC. While markets await new data to get fresh clues on the RBA’s stance. AUDUSD fell 0.60% yesterday while AUDHKD ended at 5.18 level.
Support / Resistance
vs USD 1.0766 / 1.0979 ⬇
EUR rose against the USD yesterday due to political uncertainty after Biden's decision to drop out of Presidential election. EUR was also helped by tighter German-US spreads ahead of release of Eurozone consumer confidence report. EURUSD rose 0.11% yesterday while EURHKD ended at 8.50 level.
Support / Resistance
vs USD 1.2721 / 1.3094 ⬇
GBP rose against the dollar yesterday as USD fell as traders await Wednesday's UK flash PMI data for hints at UK growth and its downstream effects on inflation, which may affect BoE policy expectations. GBPUSD rose 0.10% yesterday while GBPHKD ended at 10.09 level.
Support / Resistance
vs USD 0.5932 / 0.6096 ⬇
NZD fell against the dollar yesterday and turns lower for the 3rd straight day. Bets for an early RBNZ rate cut and China’s economic woes continue to weigh on the NZD. NZDUSD fell 0.52% yesterday while NZDHKD ended at 4.66 level.
Support / Resistance
vs USD 7.2558 / 7.2837 ⬆
CNH fell against the dollar yesterday weakening to a one-week low as a surprise rate cuts by the PBoC further widened the yield gap with the US, signaling intent to boost growth in the economy. USDCNH rose 0.16% yesterday while CNHHKD ended at 1.06 level.
Support / Resistance
vs USD 1.3642 / 1.3803 ⬇
CAD fell against the dollar yesterday. Focus moves to Wednesday's BoC policy decision with wide expectations of a 25 bps rate cut after recent easing in inflation and a declining retail sales. Fall in oil prices also weighed on CAD. USDCAD rose 0.14% yesterday while CADHKD ended at 5.67 level.
Support / Resistance
vs USD 154.24 / 160.87 ⬆
JPY rose against the dollar yesterday after two straight days of losses as the USD and UST yields fell after Biden's decision to end his re-election campaign. Focus moves to BOJ's next meeting with expectations of monetary tightening. USDJPY fell 0.31% yesterday while JPYHKD ended at 4.97 level.
Support / Resistance
vs USD 0.8792 / 0.9024 ⬇
CHF ended slightly weaker against the dollar yesterday despite the USD and US treasury yields coming under pressure after President Biden opting out of Presidential election. USDCHF rose 0.06% yesterday while CHFHKD ended at 8.77 level.
Support / Resistance
vs USD 1.3368 / 1.3561 ⬇
SGD ended slightly weaker against the US dollar yesterday despite the USD and UST yields retreating after Biden's decision to drop out of Presidential election. Meanwhile, the MAS is likely to stay on rate hold in July. USDSGD rose 0.05% yesterday while SGDHKD ended at 5.79 level.
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