Eurozone Inflation Rises on Tuesday

2024-05-28
Summary:

Tuesday saw the dollar weaken slightly amid a rising risk appetite, holding steady in Asia with minimal currency movement.

EBC Forex Snapshot, 28 May 2024


The dollar waned on Tuesday following a slight increase in risk appetite, but it held tight ranges as the data-heavy week only began to unfold. Currency moves were largely subdued in early Asia hours.


The euro firmed despite some dovish comments from EBC policymakers and data showing German business morale barely improved in May. Chief economist Philip Lane suggested a rate cut may occur in June.

EURUSD

Eurozone inflation has now fallen close to the target of 2% and investors believe that leaves room for the central bank to cut its benchmark deposit rate earlier than its US peer.

Citibank vs. HSBC Currency Pair Data Comparison

Citi (as of 20 May) HSBC (as of 27 May)

support resistance support resistance
EUR/USD 1.0793 1.0895 1.0747 1.0919
GBP/USD 1.2300 1.2712 1.2535 1.2853
USD/CHF 0.8988 0.9244 0.9036 0.9209
AUD/USD 0.6443 0.6729 0.6551 0.6709
USD/CAD 1.3478 1.3846 1.3578 1.3753
USD/JPY 152.12 157.68 154.64 158.26

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.

Eurozone Inflation Dropped to 1.8% Last Month

Eurozone Inflation Dropped to 1.8% Last Month

The dollar gained support Thursday as the Fed is not expected to cut interest rates soon, while the euro stayed near a three-week low.

2024-10-03
The Yen Stabilized Mid-Range Last Month

The Yen Stabilized Mid-Range Last Month

The US dollar rallied Tuesday as Fed Chair Powell rejected expectations for large rate cuts, while the yen steadied mid-range.

2024-10-01
China Yet Supports Commodity Currencies on Monday

China Yet Supports Commodity Currencies on Monday

On September 30, 2024, China's stimulus supported commodity currencies, pressuring the dollar as core inflation eased to a near three-year low.

2024-09-30
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EBC Financial Group is a co-brand shared by a group of entities including:
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.
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
EBC Financial Group (Australia) Pty Ltd (ACN: 619 073 237) is authorised and regulated by the Australian Securities and Investments Commission (Number: 500991). EBC Financial Group (Australia) Pty Ltd is a related entity of EBC Financial Group (SVG) LLC. The two entities are managed separately. The financial products and services offered on this website are NOT provided by the Australian entity and no recourse against the Australian entity is available.
EBC Financial Group (Cayman) Limited is licensed and regulated by the Cayman Islands Monetary Authority (Number: 2038223). Website: www.ebcgroup.ky
Business Address: The Leadenhall Building, 122 Leadenhall Street, London, United Kingdom, EC3V 4AB. 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.
Regional Restrictions: EBC does not offer any services to citizens and residents of certain jurisdictions including: Afghanistan, Belarus, Burma (Myanmar), Canada, Central African Republic, Congo, Cuba, Democratic Republic of the Congo, Eritrea, Haiti, Iran, Iraq, Lebanon, Libya, Malaysia, Mali, North Korea (Democratic People's Republic of Korea), Russia, Somalia, Sudan, South Sudan, Syria, Ukraine (including Crimea, Donetsk, and Luhansk Regions), the United States, Venezuela, and Yemen. For more information, please check out our FAQs.
Compliance Disclosure：The website can be accessed globally and is not specific to any entity. Your actual rights and obligations will be determined based on the entity and jurisdiction that you choose to be regulated.There may be local laws and regulations which prohibit or limit your rights to access, download, distribute, disseminate, share or otherwise use any or all of the documents and information published on this website.
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