4 Jul 2025
Support / Resistance
vs USD 0.6429 / 0.6649 ⬆
AUD ended lower against the US dollar yesterday as markets react to the latest US Nonfarm Payrolls report. The RBA is widely expected to cut rates for third time on Jul 8 as economy slows. AUDUSD fell 0.20% yesterday while AUDHKD ended at 5.15 level.
Support / Resistance
vs USD 1.1524 / 1.1908 ⬆
EUR ended lower against the dollar yesterday extending losses to a second straight day. ECB latest minutes of meeting revealed that some policymakers wanted to keep interest rates unchanged. EURUSD fell 0.36% yesterday while EURHKD ended at 9.22 level.
Support / Resistance
vs USD 1.3417 / 1.3838 ⬆
GBP ended stronger against the dollar yesterday after losing ground in the previous session. PMI showed UK services sector grew at fastest pace since Aug. British PM's office backed FM Rachel Reeves, easing concerns over her future. GBPUSD rose 0.14% yesterday while GBPHKD ended at 10.71 level.
Support / Resistance
vs USD 0.5927 / 0.6166 ⬆
NZD ended lower against the US dollar yesterday as downbeat Chinese economic data exerts some selling pressure on the Kiwi given China is a major trading partner of NZ. NZDUSD fell 0.31% yesterday while NZDHKD ended at 4.76 level.
Support / Resistance
vs USD 7.1463 / 7.1947 ⬆
CNH ended lower against the dollar yesterday as the USD strengthened on strong jobs data. Data released by Caixin on Thursday showed that the Services PMI declined to 50.6 in Jun, compared to 51.1 in May. USDCNH rose 0.13% yesterday while CNHHKD ended at 1.09 level.
Support / Resistance
vs USD 1.3479 / 1.3740 ⬆
CAD ended slightly higher against the US dollar yesterday despite a strengthening in the USD and a slight fall in oil prices. Canada's trade deficit narrows in May, US exports drop to lowest since pandemic. USDCAD fell 0.05% yesterday while CADHKD ended at 5.77 level.
Support / Resistance
vs USD 142.38 / 147.74 ➡
JPY ended lower against the US dollar yesterday as yield spreads widened. Internal affairs ministry data showed Japanese companies agreed to raise wages by 5.25% this year, the biggest pay hike in 34 years. USDJPY rose 0.88% yesterday while JPYHKD ended at 5.41 level.
Support / Resistance
vs USD 1.2651 / 1.2896 ⬆
SGD ended lower against the US dollar yesterday as the USD strengthened and US treasury yields rose on stronger than expected jobs data. Meanwhile, Republicans overcome internal divides and passed tax-cut and spending bill. USDSGD rose 0.19% yesterday while SGDHKD ended at 6.15 level.
Support / Resistance
vs USD 4.1705 / 4.2825 ⬆
USDMYR was broadly consolidation yesterday with the pair traded around 4.22 throughout the day ahead of US holiday. The pair opened a tad below 4.22 levels and was testing towards 4.23 levels however USD selling interest has kept the upward momentum in check. It eventually closed around the same level at 4.22. Overnight, it was a fairly choppy session with USD traded stronger with better data almost across the board. Payrolls came in 41k above survey, jobless claims 8k lower and ISM services marginally higher as well. USD did a decent squeeze higher with US yields and equities with USDJPY and led the way after the print. Stocks and yields stayed bid throughout the day but USD came off shortly after that into London close. With US yields holding, USD ended up supported for the rest of the day. Locally, we expect flows to be light today in view of US holiday. USDMYR opened at 4.23 level and expected to trade at 4.22- 4.24 range today.
⬆ 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.
