The dollar was firm in Asian trading on Monday

2024-04-08
Summary:

USD steady Monday, watching inflation and US bond yields. The Fed may cut 50% in June. AUD up on commodities; iron ore futures rise on China demand.

EBC Forex Snapshot,8 Apr 2024


The dollar was firm in Asian trading on Monday as investors looked ahead to US inflation data after the big payrolls number last week, and as Treasury yields reached for December highs.


The US rate futures market has reduced the odds of a June rate cut to 50%, the CME's FedWatch tool showed. The Australian dollar inched up due to commodity prices rally.

AUDUSD

Iron ore futures pushed back above $100 a ton on speculation that demand may pick up in China. Steel demand from construction and manufacturing “both have potential to improve,” said China Industrial Futures.

Citibank vs. HSBC Currency Pair Data Comparison

Citi (as of 25 Mar) HSBC (as of 8 Apr)

support resistance support resistance
EUR/USD 1.0695 1.1017 1.0725 1.0944
GBP/USD 1.2503 1.2896 1.2514 1.2781
USD/CHF 0.8741 0.9112 0.8869 0.9127
AUD/USD 0.6443 0.6691 0.6493 0.6648
USD/CAD 1.3359 1.3607 1.3478 1.3672
USD/JPY 146.66 151.91 149.76 152.71

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