The AUD hit a one-year low - EBC Daily Snapshot

2023-10-26
Summary:

The dollar hovered near a three-week high on Thursday, while the yen hit a low for the year of 150.78 in intraday trading.

EBC Forex Snapshot


25 Oct 2023


The dollar hovered around its near three-week high on Thursday, buoyed by rising Treasury yields and safe-haven demand. The yen hit a fresh yearly low of 150.78 per dollar.


The Australian dollar slid to a one-year low too as Reserve Bank Governor Michele Bullock tried to downplay higher-than-expected CPI in her remark.


Money market bets eased, now implying a 68% chance of a rate hike next month, down from more than 80% on Wednesday.

AUDUSD

The Australian economy paints a mixed picture. Retail sales barely grew in August though the unemployment rate unexpectedly slid to 3.6% last month.

Citibank vs. HSBC Currency Pair Data Comparison

Citi (as of 16 Oct) HSBC (as of 26 Oct)

support resistance support resistance
EUR/USD 1.0443 1.0834 1.0465 1.0677
GBP/USD 1.2011 1.2387 1.2017 1.2268
USD/CHF 0.8745 0.9338 0.8844 0.9133
AUD/USD 0.6286 0.6522 0.6239 0.6421
USD/CAD 1.3381 1.3785 1.3637 1.3884
USD/JPY 146.00 150.16 148.80 150.96

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.


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