17 February 2025
Support / Resistance
vs USD 0.6169 / 0.6453 ⬆
AUD rose against the US dollar on Friday as the USD eased broadly. Meanwhile, a delay in implementation of reciprocal tariffs has benefited commodity currencies. Focus moves to RBA's rate decision with wide expectations of a 25 bps rate cut. AUDUSD rose 0.55% last Friday while AUDHKD ended at 4.94 level.
Support / Resistance
vs USD 1.0251 / 1.0624 ⬆
EUR strengthened against the US dollar on Friday, rising to its highest since Jan 27 and on track to a weekly gain of 1.7% on optimism over peace deal between Russia and Ukraine and a delay in the introduction of trade tariffs. EURUSD rose 0.26% last Friday while EURHKD ended at 8.16 level.
Support / Resistance
vs USD 1.2347 / 1.2728 ⬆
GBP strengthened against the US dollar on Friday, rising to its strongest level this year after recent UK GDP data indicated a strength of British economy while the USD eased on larger than expected fall in US retail sales in Jan. GBPUSD rose 0.16% last Friday while GBPHKD ended at 9.79 level.
Support / Resistance
vs USD 0.5577 / 0.5811 ⬆
NZD strengthened against the US dollar on Friday, rising to its highest level since Dec 18 as the USD retreated across the board. Focus moves to upcoming FOMC minutes and RBNZ's interest rate decision. NZDUSD rose 0.85% last Friday while NZDHKD ended at 4.45 level.
Support / Resistance
vs USD 7.2092 / 7.3399 ⬆
CNH strengthened against the US dollar on Friday after the PBOC vowed to keep the yuan exchange rate stable and a delay in imposition of reciprocal tariffs, however the yuan was down 0.1% for the week and 0.4% so far this month. USDCNH fell 0.17% last Friday while CNHHKD ended at 1.07 level.
Support / Resistance
vs USD 1.3958 / 1.4600 ⬆
CAD strengthened against the US dollar on Friday, rising to a two-month high and recorded its second straight weekly gain. However, gains were capped due to mixed domestic data with factory sales growing in Dec while wholesale trade fell by 0.2%. USDCAD fell 0.08% last Friday while CADHKD ended at 5.49 level.
Support / Resistance
vs USD 150.17 / 155.22 ⬆
JPY strengthened against the dollar on Friday as the USD eased broadly. Japanese Foreign Minister sought the country's exclusion from the tariffs when he met US Secretary of State Marco Rubio during the Munich Security Conference. USDJPY fell 0.32% last Friday while JPYHKD ended at 5.11 level.
Support / Resistance
vs USD 1.3279 / 1.3604 ⬆
SGD ended higher against the US dollar on Friday as the USD eased across the board and US treasury yields retreated after larger than expected drop in US retail sales and a dip in factory production. USDSGD fell 0.31% last Friday while SGDHKD ended at 5.81 level.
Support / Resistance
vs USD 4.3724 / 4.5049 ⬆
Last Friday, Malaysia released 4th quarter GDP rising 5% from a year earlier; beating survey expectation of 4.8%. For the full year 2024, annual GDP rose 5.1% from 2023. Last week ended with a rather quiet trading session on Friday and was all about improving market conditions. The Trump related tariff threats (on again off again) pretty much neutralised themselves with the US ended a little lower against most currencies. USDMYR opened at 4.43 levels and with the US on Presidents’ Day holiday; today likely to be a quiet trading day and expect the pair to be within 4.40 – 45 levels.
⬆ 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
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