20 May 2025
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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 7.1654 / 7.2744 ⬆
CNH ended marginally lower against the dollar yesterday despite an easing in the USD. Data showed China's industrial output growth slowed, but still remained resilient, retail sales expansion missed expectations and property sector struggles to recover. USDCNH rose 0.06% yesterday while CNHHKD ended at 1.08 level.
Support / Resistance
vs USD 1.1071 / 1.1406 ➡
EUR strengthened against the dollar yesterday at one point rising to its highest since May 9. The latest European Commission forecast expects eurozone growth of 0.9% this year and 1.4% next with only a modest negative impact from US tariffs. EURUSD rose 0.69% yesterday while EURHKD ended at 8.79 level.
Support / Resistance
vs USD 1.3191 / 1.3468 ⬆
GBP strengthened against the US dollar yesterday after Britain reached a wideranging deal with the EU including a security and defense pact, fewer restrictions on British food exporters and visitors, and a contentious new fishing agreement. GBPUSD rose 0.59% yesterday while GBPHKD ended at 10.44 level.
Support / Resistance
vs USD 0.6367 / 0.6527 ⬆
AUD ended stronger against the US dollar yesterday following three days of declines. The Reserve Bank of Australia is set to announce its latest interest rate decision on Tuesday, with a consensus expectation for a 25 basis point cut from 4.10% to 3.85%. AUDUSD rose 0.80% yesterday while AUDHKD ended at 5.05 level.
Support / Resistance
vs USD 0.5842 / 0.6020 ➡
NZD continued to remain stronger against the US dollar yesterday which remains to under pressure after Moody’s downgraded the US sovereign rating. New Zealand inflation expectations rise, but rate cut still expected. NZDUSD rose 0.85% yesterday while NZDHKD ended at 4.63 level.
Support / Resistance
vs USD 1.3792 / 1.4060 ➡
CAD ended stronger against the US dollar yesterday as the USD eased across the board after Moody's downgraded US sovereign ratings. CAD was also boosted by a rise in oil prices while trading remained thin due to a holiday in Canada. USDCAD fell 0.13% yesterday while CADHKD ended at 5.60 level.
Support / Resistance
vs USD 141.77 / 148.29 ➡
JPY strengthened against the US dollar yesterday. The BoJ will continue to raise interest rates if the economy rebounds from an expected hit from higher U.S. tariffs, deputy governor Shinichi Uchida said, while warning of a highly uncertain outlook. USDJPY fell 0.58% yesterday while JPYHKD ended at 5.39 level.
Support / Resistance
vs USD 0.8092 / 0.8536 ➡
CHF strengthened against a broadly weaker US dollar yesterday. SNB Chairman Martin Schlegel noted on Monday that uncertainty surrounding inflation has made it more difficult to actively manage foreign currency flows. USDCHF fell 0.38% yesterday while CHFHKD ended at 9.36 level.
Support / Resistance
vs USD 1.2827 / 1.3098 ⬆
SGD ended stronger against the US dollar yesterday as the USD eased across the board after Moody's downgraded US sovereign ratings while US treasury yields firmed. USDSGD fell 0.44% yesterday while SGDHKD ended at 6.03 level.
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