Safe havens lifted USD and JPY - EBC Daily Snapshot

2023-10-09

Summary:

Safe-haven demand lifted the USD and JPY on Mon due to Israel-Gaza war escalation. Fragile risk sentiment amid increasing global violence.

EBC Forex Snapshot

9 Oct 2023

Safe haven demand pushed the US dollar and Japanese yen higher on Monday as Israel-Gaza conflict erupts into war. Risk sentiment was fragile amid rising global bloodshed.

US dollar and Japanese yen higher

Market pricing shows a roughly 78% chance that the Fed will keep rates on hold at its Nov’s policy meeting after a strong job report.

USDJPY

Japan will unlikely seek an intervention as recent falls reflect economic fundamentals, former top currency diplomat Naoyuki Shinohara said.

Citibank vs. HSBC Currency Pair Data Comparison
	Citi (as of 3 Oct)		HSBC (as of 9 Oct)
	support	resistance	support	resistance
EUR/USD	1.0477	1.0834	1.0443	1.0732
GBP/USD	1.2011	1.2308	1.2042	1.2428
USD/CHF	0.8745	0.9338	0.8938	0.9252
AUD/USD	0.6300	0.6522	0.6274	0.6502
USD/CAD	1.3302	1.3695	1.3441	1.3833
USD/JPY	144.54	150.15	147.70	150.55

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.

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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.
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
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 and are managed separately. EBC Financial Group (Australia) Pty Ltd provides general financial advise services in Australia.
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
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. The information on this site is not intended for residents of Canada, Hong Kong, Malaysia and the United States, or used by any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.

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