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22 Jan 2025
The investment decision is yours but you should not invest in this product unless the intermediary who sells it to you has explained to you that the product is suitable for you having regard to your financial situation and investment experience.
Investment involves risk. Loss may be incurred as well as profits made as a result of buying and selling investment products.
Currency conversion risk - the value of your foreign currency and RMB deposit will be subject to the risk of exchange rate fluctuation. If you choose to convert your foreign currency and RMB deposit to other currencies at an exchange rate that is less favourable than the exchange rate in which you made your original conversion to that foreign currency and RMB, you may suffer loss in principal.
RMB is currently not freely convertible and subject to regulatory restrictions (which might be changed from time to time).
Support / Resistance
vs USD 0.6166 / 0.6339 ⬇
AUD ended marginally lower against the US dollar yesterday as the USD recovered from previous days lows. Focus moves back to tariff threats on China and EU after initial optimism over Trump administration. AUDUSD fell 0.02% yesterday while AUDHKD ended at 4.88 level.
Support / Resistance
vs USD 1.0258 / 1.0518 ⬇
EUR ended stronger against the US dollar yesterday. Meanwhile, the EU is also seen as a likely target for Trump's tariffs. Trump said he would remedy the trade imbalance through tariffs. EURUSD rose 0.12% yesterday while EURHKD ended at 8.11 level.
Support / Resistance
vs USD 1.2109 / 1.2587 ⬇
GBP ended stronger against the US dollar yesterday despite the drop in Gilts yield yesterday. Lingering fiscal concerns and uncertainty about Trump's tariffs still remains a concern. GBPUSD rose 0.18% yesterday while GBPHKD ended at 9.61 level.
Support / Resistance
vs USD 0.5579 / 0.5732 ⬇
NZD ended stronger against the US dollar yesterday despite a recovery in USD from its previous day lows. Meanwhile, inflation data released this morning is widely in line with expectation. NZDUSD rose 0.12% yesterday while NZDHKD ended at 4.41 level.
Support / Resistance
vs USD 7.2460 / 7.3145 ⬆
CNH ended slightly lower against the US dollar yesterday as the USD recovered from previous days lows after focus shifted back to China tariffs. Meanwhile, the PBOC kept its key lending rates unchanged. USDCNH rose 0.06% yesterday while CNHHKD ended at 1.07 level.
Support / Resistance
vs USD 1.4214 / 1.4470 ⬇
CAD ended weaker against the US dollar yesterday after Trump said he was thinking about imposing 25% tariffs on Canada on Feb 1. Meanwhile, inflation in Canada slowed in Dec, giving Bank of Canada room to cut interest rates again. USDCAD rose 0.08% yesterday while CADHKD ended at 5.43 level.
Support / Resistance
vs USD 153.88 / 157.99 ⬆
JPY ended higher against the dollar yesterday despite a rebound in the USD. The yen was boosted by growing expectations that the BOJ will raise interest rates on Friday. USDJPY fell 0.06% yesterday while JPYHKD ended at 5.00 level.
Support / Resistance
vs USD 0.8976 / 0.9170 ⬇
CHF ended marginally stronger against the US dollar yesterday despite a rebound in USD from previous days lows. US treasury yields slipped as markets cheer a gradual approach on tariffs while uncertainty lingers. USDCHF fell 0.08% yesterday while CHFHKD ended at 8.59 level.
Support / Resistance
vs USD 1.3435 / 1.3674 ⬇
SGD ended stronger against the US dollar yesterday. Economists are split on whether the MAS will loosen monetary policy or leave things unchanged due to the developing situation of Trump's administration. USDSGD fell 0.27% yesterday while SGDHKD ended at 5.75 level.
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