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Daily FX Focus

15 October 2025

Important Risk Disclosure

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).

CNH

Support / Resistance

vs USD 7.1205 / 7.1564 ⬆

CNH marginally weakened against the USD yesterday, trading in a narrow range as markets watched U.S.–China tariff headlines and official statements signaled ongoing negotiations. USDCNH rose 0.03% yesterday while CNHHKD ended at 1.08 level.

EUR

Support / Resistance

vs USD 1.1504 / 1.1742 ⬇

EUR rose against the USD yesterday, supported by better Eurozone economic data, a weaker dollar, and improved risk appetite, though French political uncertainty capped gains. EURUSD rose 0.32% yesterday while EURHKD ended at 9.02 level.

GBP

Support / Resistance

vs USD 1.3198 / 1.3480 ⬇

GBP edged lower against the USD yesterday, weighed by a quiet UK calendar, a firmer dollar, and investor focus on upcoming UK labor data, while Brexit and fiscal headlines stayed muted. GBPUSD fell 0.10% yesterday while GBPHKD ended at 10.35 level.

AUD

Support / Resistance

vs USD 0.6406 / 0.6596 ⬇

AUD slipped against the USD yesterday, pressured by softer Chinese import data, renewed global trade caution, ongoing U.S. tariff rhetoric, and a lack of fresh domestic catalysts. AUDUSD fell 0.45% yesterday while AUDHKD ended at 5.04 level.

NZD

Support / Resistance

vs USD  0.5649 / 0.5812 ⬇

NZD weakened against the USD yesterday, pressured by global trade tensions, RBNZ’s dovish stance, subdued risk appetite, and a lack of significant local data. NZDUSD fell 0.16% yesterday while NZDHKD ended at 4.44 level.

CAD

Support / Resistance

vs USD 1.3923 / 1.4120 ⬇

CAD fell against the USD yesterday, pressured by U.S.–China tensions, lower oil prices, and concerns over future oil demand and worsening market sentiment. USDCAD rose 0.06% yesterday while CADHKD ended at 5.53 level.

JPY

Support / Resistance

vs USD 147.84 / 154.54 ⬇

JPY strengthened against the USD yesterday, supported by softer U.S. yields, cautious risk tone, and speculation about possible BoJ policy changes. USDJPY fell 0.29% yesterday while JPYHKD ended at 5.12 level.

CHF

Support / Resistance

vs USD  0.7930 / 0.8080 ⬇

CHF advanced against USD yesterday as safe-haven demand returned amid global trade concerns, supported by Switzerland’s strong external balances and little domestic news. USDCHF fell 0.39% yesterday while CHFHKD ended at 9.70 level.

SGD

Support / Resistance

vs USD 1.2886 / 1.3045 ⬇

SGD was marginally firmer against USD yesterday, tracking regional flows and a steady policy outlook, as MAS is expected to maintain its stance amid cooling inflation. USDSGD fell 0.02% yesterday while SGDHKD ended at 5.98 level.

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Disclaimer

This document has been prepared for information only. Information contained in this document is obtained from sources believed to be reliable; however HSBC does not guarantee its completeness or accuracy. The information contained in this document is intended for Singapore residents only and should not be construed as an offer to purchase or subscribe for any investment where such activities would be unlawful under the laws of such jurisdiction, in particular the United States of America and Canada. This material is not and should not be construed as an offer to sell or the solicitation of an offer to purchase or subscribe for any investment or securities nor shall it or any part of it form the basis of, or be relied on in connection with, any contract or commitment whatsoever. The specific investment objectives, personal situation and particular needs of any person have not been taken in consideration. You should therefore not rely on it as investment advice. Opinions and estimates expressed are subject to change without notice and HSBC expressly disclaims any and all liability for representations and warranties, express or implied, contained herein, or for omissions. All charts and graphs are from publicly available sources or proprietary data. The mention of any security should not be construed as representing a recommendation to buy or sell that security, nor does it represent a forecast on future performance of the security.

This document is prepared by HSBC Bank (Singapore) Limited (“HBSP”) to its customers for general reference only. HBSP is not responsible for any loss, damage or other consequences of any kind that you may incur or suffer as a result of, arising from or relating to your use or reliance of this document. HBSP gives no guarantee, representation or warranty as to the accuracy, timeliness or completeness of this document.

This document is prepared by The Hongkong and Shanghai Banking Corporation Limited (‘HBAP’), 1 Queen’s Road Central, Hong Kong. HBAP is incorporated in Hong Kong and is part of the HSBC Group.