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


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.


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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Currency pressures persist on Thursday

Currency pressures persist on Thursday

On Thursday, the dollar weakened while pressures on other currencies persisted. Strong data dampened expectations of Fed rate cuts in June.

Pound rises from fall to rise

Pound rises from fall to rise

Fed Chair Powell's comments on Wednesday drove a modest dollar gain, citing limited progress on inflation goals. Traders predict a 40-bps cut by 2024.

The dollar rose to a five-month high on Tuesday

The dollar rose to a five-month high on Tuesday

The dollar hit a 5-month high on Tuesday as US retail sales surged 0.7% in March, beating economists' 0.4% forecast.