The dollar showed a lack of direction on Thursday

2024-01-25
Summary:

Thursday: Dollar near 6-week high lacks direction as investors await more data. Q4 US GDP growth expected at 2% - Reuters poll.

25 Jan 2024


The dollar showed a lack of direction around its six-week high on Thursday as investors await more data this week. The first reading of Q4 US GDP growth is likely to show 2% annualised growth, according to a Reuters poll.


Markets are currently pricing in a 43% chance of a cut in March, the CME FedWatch tool shows. The greenback is up about 2% this month due to rising geopolitical tensions and inflation pickup.

AUDUSD

The Australian dollar struggled to sustain a China-inspired rally although global shares are set to climb higher for a second straight day. Markets are calling for more action by China to stave off systematic risks.

Citibank vs. HSBC Currency Pair Data Comparison

Citi (as of 15 Jan) HSBC (as of 25 Jan)

support resistance support resistance
EUR/USD 1.0848 1.1139 1.0803 1.0981
GBP/USD 1.2536 1.2848 1.2616 1.2808
USD/CHF 0.8333 0.8667 0.8477 0.8752
AUD/USD 0.6612 0.6900 0.6483 0.6708
USD/CAD 1.3093 1.3177 1.3358 1.3614
USD/JPY 140.59 146.49 144.34 149.73

The green numbers in the table indicate an increase in data, the red numbers indicate a decrease in data, and the black numbers indicate that the data remains 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 (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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