4 July 2024
Support / Resistance
vs USD 0.6615 / 0.6764 ⬆
AUD rose against the dollar yesterday as USD declined broadly after soft ADP figures from June and after Australian retail sales bounce in May. While investors await June Nonfarm Payrolls data due tomorrow. AUDUSD rose 0.57% yesterday while AUDHKD ended at 5.23 level.
Support / Resistance
vs USD 1.0696 / 1.0847 ⬆
EUR rose against the dollar yesterday as the USD eased on softer-than-expected data. The EUR also rose on optimism that the National Rally might not secure an overall majority in the French Parliament. EURUSD rose 0.39% yesterday while EURHKD ended at 8.42 level.
Support / Resistance
vs USD 1.2644 / 1.2808 ⬆
GBP ended higher against the dollar yesterday bolstered by a broad softening in US economic figures, signs of further softening mount. UK election today could introduce a fresh round of volatility. GBPUSD rose 0.44% yesterday while GBPHKD ended at 9.95 level.
Support / Resistance
vs USD 0.6044 / 0.6167 ➡
NZD rose against the dollar yesterday as USD and US yields slide after soft jobs & ISM data. While RBNZ is set to deliver an interest rate decision next week after maintaining it at 5.5% for the 7th consecutive meeting in May. NZDUSD rose 0.39% yesterday while NZDHKD ended at 4.76 level.
Support / Resistance
vs USD 7.2765 / 7.3207 ⬇
CNH ended higher against the dollar yesterday as the USD and US treasury yields eased on softerthan-expected manufacturing and jobs data. CNH rose despite the services PMI fell to 51.2 in June from 54.0 in May. USDCNH fell 0.07% yesterday while CNHHKD ended at 1.06 level.
Support / Resistance
vs USD 1.3578 / 1.3739 ⬆
CAD rose against the US dollar yesterday climbing to a 8-week high after the USD eased broadly. CAD was also boosted by rise in oil prices, however a bigger than expected monthly trade deficit capped gains. USDCAD fell 0.28% yesterday while CADHKD ended at 5.72 level.
Support / Resistance
vs USD 158.38 / 163.47 ⬇
JPY fell to a 38-year low against the dollar yesterday despite the USD easing against most major currencies and US treasury yield retreated after slew of softer than expected US data. The yen hit a record low against the EUR. USDJPY rose 0.15% yesterday while JPYHKD ended at 4.83 level.
Support / Resistance
vs USD 1.3493 / 1.3590 ➡
SGD ended stronger against the US dollar yesterday as the USD eased against major peers and US treasury yields fell, pressured by growing signs of weakness in US manufacturing and jobs market. USDSGD fell 0.15% yesterday while SGDHKD ended at 5.76 level.
Support / Resistance
vs USD 4.7069 / 4.7277 ⬆
MYR was firmer against the USD at yesterday’s opening after dovish comments from Powell led to lower US yields and softer USD. USDMYR continued to trade in consolidation mode and lingered around 4.72 level throughout the day. Last night, a list of US data results printed on the softer side of expectations, indicating that the US economy is indeed slowing which may allow the FED to consider rate cuts. As US goes on holiday today, USDMYR opened just below 4.72 this morning and may continue to consolidate around the range of 4.70-4.72 today.
⬆ Consolidation, indicates that the currency's movement against USD has remained sideways
➡ Up Trend, indicates that the currency has been moving higher against the base currency
⬇ Down Trend, indicates that the currency has been moving lower against the base currency
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