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Daily FX Focus

16 January 2026

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  6.9433 / 6.9979 ⬆

CNH rose against USD yesterday after the central bank announced sector-specific rate cuts to boost the economy. The currency stayed stable, with downside limited by policy support expectations. USDCNH fell 0.10% yesterday while CNHHKD ended at 1.11 level.

EUR

Support / Resistance

vs USD 1.1536 / 1.1732 ⬇

EUR fell against USD yesterday, even as Germany exited recession. ECB’s chief economist warned of risks from diverging Fed policy, and officials pushed back on aggressive rate cut bets. EURUSD fell 0.30% yesterday while EURHKD ended at 9.05 level.

GBP

Support / Resistance

vs USD 1.3302 / 1.3510 ➡

GBP weakened against USD yesterday despite a UK economic rebound, as BoE’s move to cut oversight fueled deregulation debate. The pound lagged peers as data suggested less need for aggressive rate cuts. GBPUSD fell 0.46% yesterday while GBPHKD ended at 10.43 level.

AUD

Support / Resistance

vs USD 0.6649 / 0.6757 ⬆

AUD rose against USD yesterday, buoyed by a new US-Taiwan semiconductor trade deal that lifted risk sentiment. Lower market volatility also supported carry trades and helped the currency hold gains. AUDUSD rose 0.25% yesterday while AUDHKD ended at 5.22 level.

NZD

Support / Resistance

vs USD 0.5690 / 0.5813 ➡

NZD fell against USD yesterday, pressured by broad greenback strength and lacking domestic drivers. It stayed resilient despite renewed US-China trade tensions, trading in a narrow range. NZDUSD fell 0.16% yesterday while NZDHKD ended at 4.47 level.

CAD

Support / Resistance

vs USD 1.3724 / 1.3989 ⬇

CAD fell against USD yesterday as home sales dropped 1.2%, overshadowing stronger energy ties with China. The greenback’s strength drove the USDCAD pair higher. USDCAD rose 0.06% yesterday while CADHKD ended at 5.61 level.

JPY

Support / Resistance

vs USD 156.44 / 160.15 ⬇

JPY fell against USD yesterday as broad dollar strength and uncertainty from normalization pushed the pair higher. Official concern over one-sided moves offered some support. USDJPY rose 0.11% yesterday while JPYHKD ended at 4.91 level.

CHF

Support / Resistance

vs USD 0.7920 / 0.8090 ⬇

CHF weakened against USD yesterday, giving up safe-haven gains as the greenback rallied on strong US labor data. But the franc stayed supported as investors sought shelter. USDCHF rose 0.41% yesterday while CHFHKD ended at 9.70 level.

SGD

Support / Resistance

vs USD 1.2810 / 1.2921 ➡

SGD edged lower against USD yesterday, trading in a tight range as markets digested US trade and economic updates. MAS policy stance provided a floor for the currency. USDSGD rose 0.02% yesterday while SGDHKD ended at 6.05 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.

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