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December 23 – The Singapore dollar and most Asian currencies strengthened against the US dollar in early trading as lower US Treasury yields reduced the attractiveness of US fixed-income assets. Deepali Bhargava, Head of Asia Pacific Research at ING, noted that the Singapore dollar is one of the strongest performing Asian currencies this year. She stated that Singapore avoided the worst impact of US tariffs, securing the lowest retaliatory tariff rate of 10%. Bhargava added that looking ahead, a weakening US dollar is expected to provide support for Asian currencies.On December 23, the Reserve Bank of Australias (RBA) December meeting minutes revealed that the bank maintained a hawkish tone as policymakers closely monitor inflation trends. Sally Auld, Chief Economist at National Australia Bank Group, commented that the minutes "reflected anxiety about recent inflation trends." She added that the RBA believes there is some excess demand in the current economic climate but is uncertain whether existing financial conditions are sufficiently restrictive to balance aggregate demand with aggregate supply. The minutes showed that the RBA discussed the potential need for an interest rate hike next year. Notably, market expectations have shifted significantly: previously, the market anticipated a further 25 basis point cut in the official cash rate by the end of 2026, but now it expects a 25 basis point rate hike at that time.On December 23rd, Futures News reported that the recent escalation of tensions, stemming from the USs continued detention of South American oil tankers and Trumps increased restrictions on South America, has fueled market concerns about potential oil supply disruptions, pushing up oil prices. US crude oil has already rebounded by $2 per barrel from its lows. Zhuochuang Information predicts that while the escalating situation in South America provides upward momentum for oil prices, negotiations in a certain European country are exerting downward pressure. Frequent geopolitical disturbances are causing wide price fluctuations. In the short term, attention should be paid to the sustainability of the oil price rebound, which is expected to remain bullish.Sources say Japan is likely to assume long-term interest rates of around 3% in its fiscal year 2026 budget, the highest level in 29 years.December 23 – The policy allowing Guangdong vehicles to enter Hong Kongs urban areas officially took effect at midnight today (December 23), with 100 slots available daily. Approved and successfully booked Guangdong vehicles can enter Hong Kong via the Hong Kong-Zhuhai-Macau Bridge, staying for a maximum of three days each time. Hong Kongs Secretary for Transport and Logistics, Chan Mei-po, stated that nearly all 100 slots were booked on the first day. Due to the upcoming long holiday in Hong Kong, the response to the "Guangdong vehicles southbound" measure has been very positive, and the Bureau will closely monitor the situation, including observing the number of vehicles entering Hong Kong. Chan Mei-po explained that most of the vehicles entering Hong Kong are electric vehicles, and the Hong Kong SAR government will gradually increase the number of charging facilities in the future.

Technical Analysis

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