A wave of risk aversion swept over markets on Friday

2024-04-19
Summary:

Markets experienced a wave of risk aversion on Friday as reports emerged of Israel attacking Iran, prompting investors to seek safe-haven currencies.

EBC Forex Snapshot, 19 Apr 2024


A wave of risk aversion swept over markets on Friday and sent investors rushing to safe-haven currencies following reports that Israel attacked Iran in an escalation of conflict in the Middle East.


The yen was still below 154 per dollar. Japan’s core inflation slowed in March due to mild rises in food prices while staying comfortably above the central bank’s 2% target, government data showed.

USDJPY

BOJ Governor Kazuo Ueda said the central bank may raise interest rates again if the yen's declines significantly push up inflation, highlighting the impact currency moves may have on the timing of the next policy shift.

Citibank vs. HSBC Currency Pair Data Comparison

Citi (as of 15 Apr) HSBC (as of 19 Apr)

support resistance support resistance
EUR/USD 1.0517 1.0865 1.0533 1.0819
GBP/USD 1.2337 1.2709 1.2322 1.2628
USD/CHF 0.8999 0.9148 0.9028 0.9183
AUD/USD 0.6443 0.6668 0.6324 0.6580
USD/CAD 1.3478 1.3855 1.3545 1.3916
USD/JPY 150.88 153.39 152.03 156.01

The green numbers in the table indicate that the data has increased compared with the previous time; the red numbers indicate that the data has decreased compared with the previous time; and the black numbers indicate that the data has remained unchanged.


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The dollar held mostly steady on Thursday

The dollar held mostly steady on Thursday

The dollar stayed stable ahead of next week's inflation data. The Swiss franc was strong at 0.9085, reflecting a labor market recovery.

2024-05-09
The yen was trading around 155 on Wednesday

The yen was trading around 155 on Wednesday

The dollar rose slightly on Wednesday after earlier Fed rate cut bets. The yen traded near 155 per dollar as traders anticipated market swings.

2024-05-08
The Australian dollar dips from a two-month high

The Australian dollar dips from a two-month high

The US dollar rose slightly Tuesday, seeking more NFP-aligned data. The Aussie dollar dipped from a near-two-month high as the RBA stayed dovish.

2024-05-07