29 April 2025
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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 7.2494 / 7.3452 ➡
CNH rose against the dollar yesterday amid the US-China trade war, but experts warned that these two currencies would be subject to volatility. Focus this week is on key Chinese purchasing managers index data for April. USDCNH fell 0.05% yesterday while CNHHKD ended at 1.06 level.
Support / Resistance
vs USD 1.1031 / 1.1692 ⬆
EUR rose against the dollar yesterday while investors look for fresh cues on trade relations between the US and China. The inflation and growth data will significantly influence market expectations for the ECB's monetary policy. EURUSD rose 0.48% yesterday while EURHKD ended at 8.85 level.
Support / Resistance
vs USD 1.2971 / 1.3675 ⬆
GBP rose against the dollar yesterday with the optimism of a potential trade deal between the US and UK. But BoE dovish bets have escalated as inflation pressures seem to be subsiding. GBPUSD rose 0.95% yesterday while GBPHKD ended at 10.42 level.
Support / Resistance
vs USD 0.6082 / 0.6609 ⬆
AUD rose against the dollar yesterday amid some support was found on hopes that US-China tensions are easing after Beijing exempted certain U.S. goods from tariffs last week. AUDUSD rose 0.56% yesterday while AUDHKD ended at 4.98 level.
Support / Resistance
vs USD 0.5631 / 0.6177 ⬆
NZD rose against the US dollar yesterday amid growing signs of weakening demand from China. Moreover, the NZD remains under pressure as markets increasingly expect the RBNZ to deliver additional monetary stimulus. NZDUSD rose 0.27% yesterday while NZDHKD ended at 4.63 level.
Support / Resistance
vs USD 1.3647 / 1.4142 ⬆
CAD rose against its U.S. dollar yesterday supported by signs of easing tensions between the US and China. China’s decision to exempt certain US tariffs has sparked hopes for improved trade relations. USDCAD fell 0.24% yesterday while CADHKD ended at 5.60 level.
Support / Resistance
vs USD 138.49 / 146.90 ⬆
JPY rose against the dollar yesterday as retail sales year-on-year is expected to grow. Moreover, the Bank of Japan will be holding its May monetary policy meeting on Thursday, more interest rate guidance to be revealed. USDJPY fell 1.16% yesterday while JPYHKD ended at 5.45 level.
Support / Resistance
vs USD 0.7964 / 0.8509 ⬆
CHF rose against the US dollar yesterday as trade-related uncertainties between the US and China and persistent geopolitical risks boost the safe-haven demand. Meanwhile, market awaits ahead of the FOMC meeting on May 7. USDCHF fell 1.01% yesterday while CHFHKD ended at 9.45 level.
Support / Resistance
vs USD 1.2878 / 1.3419 ⬆
SGD rose against the US dollar yesterday amid conflicting signals on U.S. trade negotiations with other countries. Meanwhile, investors awaits fresh tariff news. USDSGD fell 0.48% yesterday while SGDHKD ended at 5.92 level.
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