Hong Kong

2024-12-19 14:50

IndustryUSD Strengthens, Key Levels to Watch
USD Outlook The Fed is widely expected to cut rates by 25 basis points, but comments on slower future rate cuts due to a stable labor market and inflation led to a stronger dollar, contrary to expectations. The USD Index tested 108.26 before slightly pulling back. EUR/USD dropped significantly but found support near 1.0330-1.0300, with potential for a rebound above this level. USD/JPY As the USD Index rose, USD/JPY broke above 155. If the pair stays above 155, the uptrend may extend to 156-157. However, if it fails to maintain this level, a decline to 152 is possible. We will monitor the pair's next move. AUD Outlook The AUD has limited downside potential to 0.63, but after breaking this level, it reached a low of 0.6199 before slightly recovering. The future outlook for AUD is uncertain, but as long as it stays above 0.62, a recovery to previous levels is possible. Oil Outlook Crude oil traded above $69, with a broad range of $72-67 expected to hold for a while. DJIA Outlook The Dow Jones has broken below 43,000. The next key level to watch is 42,100. A failure to rebound from this level may drag the Dow to 41,500-41,300, where the downtrend could pause.
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USD Strengthens, Key Levels to Watch
Hong Kong | 2024-12-19 14:50
USD Outlook The Fed is widely expected to cut rates by 25 basis points, but comments on slower future rate cuts due to a stable labor market and inflation led to a stronger dollar, contrary to expectations. The USD Index tested 108.26 before slightly pulling back. EUR/USD dropped significantly but found support near 1.0330-1.0300, with potential for a rebound above this level. USD/JPY As the USD Index rose, USD/JPY broke above 155. If the pair stays above 155, the uptrend may extend to 156-157. However, if it fails to maintain this level, a decline to 152 is possible. We will monitor the pair's next move. AUD Outlook The AUD has limited downside potential to 0.63, but after breaking this level, it reached a low of 0.6199 before slightly recovering. The future outlook for AUD is uncertain, but as long as it stays above 0.62, a recovery to previous levels is possible. Oil Outlook Crude oil traded above $69, with a broad range of $72-67 expected to hold for a while. DJIA Outlook The Dow Jones has broken below 43,000. The next key level to watch is 42,100. A failure to rebound from this level may drag the Dow to 41,500-41,300, where the downtrend could pause.
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