26 July 2024
Support / Resistance
vs USD 0.6436 / 0.6720 ⬇
AUD fell against the dollar yesterday amidst alarming economic indicators in China and Australia. The RBA remains hawkish and does not show signs of easing on its stance and markets bet on a hike in Q4. AUDUSD fell 0.65% yesterday while AUDHKD ended at 5.10 level.
Support / Resistance
vs USD 1.0783 / 1.0929 ⬆
EUR ended slightly higher against the dollar yesterday as the USD softened. The USD trimmed losses after data showed US economy expanded faster than expected. July IFO Business Climate index unexpectedly fell, came in below expectations. EURUSD rose 0.05% yesterday while EURHKD ended at 8.46 level.
Support / Resistance
vs USD 1.2738 / 1.3004 ➡
GBP fell slightly against the dollar yesterday on robust US Q2 GDP growth and as market expectations of a BoE rate cut next week weighed on the GBP. While investors await US PCE inflation data release today. GBPUSD fell 0.43% yesterday while GBPHKD ended at 10.03 level.
Support / Resistance
vs USD 0.5795 / 0.6066 ⬇
NZD ended lower against the dollar yesterday as stronger US data has trimmed some rate cut expectations in September underpinning USD. While disappointed Chinese data and growing odds of a rate cut by the RBNZ drag the NZD lower. NZDUSD fell 0.74% yesterday while NZDHKD ended at 4.59 level.
Support / Resistance
vs USD 7.1965 / 7.2906 ⬆
CNH rose against the dollar yesterday and the onshore yuan was on course for its best session since December amid sharp rise in the Japanese yen and state bank support in both onshore and offshore markets. USDCNH fell 0.35% yesterday while CNHHKD ended at 1.07 level.
Support / Resistance
vs USD 1.3660 / 1.3920 ⬇
CAD weakened against the dollar yesterday falling to an eight-month low as Bank of Canada shifts its focus to boosting the economy rather than suppressing inflation. CAD losses were limited by a rise in oil prices. USDCAD rose 0.12% yesterday while CADHKD ended at 5.64 level.
Support / Resistance
vs USD 149.98 / 159.85 ⬆
JPY ended slightly lower against the dollar yesterday despite at one point hit a six-week high before settling as the USD rebounded. Yen was on track for its best weekly gain since late Apr. USDJPY rose 0.04% yesterday while JPYHKD ended at 5.07 level.
Support / Resistance
vs USD 1.3377 / 1.3503 ⬆
SGD ended marginally higher against the US dollar yesterday, as the USD ended slightly softer. The MAS kept its monetary policy settings unchanged and expects growth momentum to improve in second half of 2024. USDSGD fell 0.01% yesterday while SGDHKD ended at 5.80 level.
Support / Resistance
vs USD 4.6414 / 4.6977 ⬆
USDMYR was traded on a weaker tone yesterday with the ongoing RMB & JPY strengths continued to lead MYR recovery. The pair opened a tad below 4.67 levels and was broadly consolidated in the morning session with good 2 way interest seen in the market. However better selling interest flows in the afternoon session has sent USD weaker briefly below 4.66 levels before it eventually end the session at 4.66. Overnight, USD surged mildly with the release of better than expected US GDP which showed an expansion of 2.8%. USDMYR opened slightly higher at 4.6650 today and expect to trade between 4.65-4.68 range.
⬆ 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
This document is issued by HSBC Bank Malaysia Berhad (127776-V) (HSBC). The information contained herein is derived from sources we believe to be reliable, but which we have not independently verified. HSBC makes no representation or warranty (express or implied) of any nature nor is any responsibility of any kind accepted with respect to the completeness or accuracy of any information, projection, representation or warranty (expressed or implied) in, or omission from, this document. No liability is accepted whatsoever for any direct, indirect or consequential loss arising from the use of this document. Any examples given are for the purposes of illustration only. The opinions in this document constitute our present judgment, which is subject to change without notice. This document does not constitute an offer or solicitation for, or advice that you should enter into, the purchase or sale of any security, commodity or other investment product or investment agreement, or any other contract, agreement or structure whatsoever and is intended for institutional customers and is not intended for the use of private customers. The document is intended to be distributed in its entirety. No consideration has been given to the particular investment objectives, financial situation or particular needs of any recipient. Unless governing law permits otherwise, you must contact a HSBC Group member in your home jurisdiction if you wish to use HSBC Group services in effecting a transaction in any investment mentioned in this document. This document, which is not for public circulation, must not be copied, transferred or the content disclosed, to any third party and is not intended for use by any person other than the intended recipient or the intended recipient's professional advisers for the purposes of advising the intended recipient hereon.
Copyright. HSBC Bank Malaysia Berhad (127776-V) 2015. ALL RIGHTS RESERVED. No part of this publication may be reproduced, stored in a retrieval system, or transmitted, on any form or by any means, electronic, mechanical, photocopying, recording, or otherwise, without the prior written permission of HSBC Bank Malaysia Berhad.