The dollar fell on Tuesday

2024-02-27
Summary:

Dollar dropped Tuesday, with markets eyeing upcoming economic data. Expectations for rate cut shifted to June from May, per CME's FedWatch Tool.

EBC Forex Snapshot, 27 Feb 2024


The dollar fell on Tuesday, as markets looked ahead to a week of economic data. Markets have recently pushed back expectations for a cut to June from May, CME's FedWatch Tool showed.


Sterling volatility has hit a four-year low, reflecting the degree of investor complacency and the currency's steady performance. The BOE is expected to act later than the Fed and the ECB this year.

GBPUSD

Speculators have trimmed their bullish positions in the pound for the first time in eight weeks, suggesting that they may be on the hunt for a new catalyst to give the currency a bit of fresh pep.


 Citi (as of 19 Feb) HSBC (as of 27 Feb)

support resistance support resistance
EUR/USD 1.0694 1.1017 1.0731 1.0926
GBP/USD 1.2476 1.2827 1.2573 1.2750
USD/CHF 0.8551 0.9013 0.8694 0.8893
AUD/USD 0.6443 0.6624 0.6456 0.6610
USD/CAD 1.3379 1.3586 1.3417 1.3592
USD/JPY 146.09 151.91 148.58 151.84

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.
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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
Disclaimer: EBC Financial Group explicitly does not participate in any cryptocurrency activities or offer Crypto Contracts for Difference (CFDs). Our financial services solely pertain to traditional instruments. Clients are advised that any references to crypto-related services using the EBC name are inaccurate and unauthorized. Any reference to past performance is not indicative of future performance. The information contained in this website is provided for reference only and does not constitute any investment advice.
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