The Australian dollar slipped on Wednesday

2024-03-27
Summary:

Strong US data raised doubts on rate cuts, lifting the dollar and pushing the yen to a 30-year low. The Aussie slipped on weak inflation.

EBC Forex Snapshot, 27 Mar 2024


The dollar rose on Wednesday as more strong US economic data raise doubt over the likelihood of interest rate cuts, sending the yen to a three-decade low. The Aussie slipped as inflation fell short of expectations.


CPI rose only 3.4% last month, close to the pace of the increases in January. The figure offers an indication of how much interest rates are squeezing demand in the economy.

AUDUSD

An aggregate gauge of investor positioning in the Aussie — net non-commercial futures and options positions — showed the most bearish bias since at least 1995, according to CFTC data for the week to 19 March.

Citibank vs. HSBC Currency Pair Data Comparison

Citi (as of 18 Mar) HSBC (as of 27 Mar)

support resistance support resistance
EUR/USD 1.0695 1.1017 1.0760 1.0940
GBP/USD 1.2503 1.2896 1.2500 1.2821
USD/CHF 0.8741 0.9000 0.8830 0.9145
AUD/USD 0.6443 0.6691 0.6467 0.6632
USD/CAD 1.3359 1.3607 1.3461 1.3658
USD/JPY 146.26 149.21 148.06 153.45

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.


Disclaimer: This material is for general information purposes only and is not intended as (and should not be considered to be) financial, investment or other advice on which reliance should be placed. No opinion given in the material constitutes a recommendation by EBC or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person.

The yen was trading around 156 on Monday

The yen was trading around 156 on Monday

Investors await clues on US interest rates as the dollar holds steady. Fed officials are cautious despite weak inflation signals.

2024-05-20
Dollar's biggest 2.5-month fall vs. euro Friday

Dollar's biggest 2.5-month fall vs. euro Friday

The dollar weakened versus the euro this week on signs of lower inflation and a softer US economy, raising Fed rate-cut expectations.

2024-05-17
US Dollar Slips to Multi-Month Lows on Thursday

US Dollar Slips to Multi-Month Lows on Thursday

US core inflation hits a 3-year low, causing the dollar to plummet; the Australian dollar also falls from a 4-month peak due to a weak jobs report.

2024-05-16

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EBC Financial Group is owned and operated by EBC Group.
EBC Financial Group (SVG) LLC is authorized by the St.Vincent and the Grenadines Financial Services Authority(SVGFSA),and the company registration number is 353 LLC 2020. with registered address at Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines.
EBC Group Limited (BVI), with registered address at Trident Chambers, P.O. Box 146, Road Town, Tortola, British Virgin Islands is owned and operated by EBC Group.
Other Relevant Entities
EBC Financial Group (UK) Limited is authorised and regulated by the Financial Conduct Authority. Reference Number: 927552. Website： www.ebcfin.co.uk
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EBC Financial Group (Cayman) Limited is licensed and regulated by the Cayman Islands Monetary Authority (Number: 2038223). website: www.ebcgroup.ky
Business Address: Level 17, Dashwood House, 69 Old Broad Street, London, England, EC2M 1QS,United Kingdom.Email Address : [email protected]. Telephone : +44 20 3376 9662
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