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.
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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Following strong economic news, the dollar was steady on Friday. US GDP grew at a 2.8% annual rate last quarter, beating expectations.
2024-07-26The yen reached a 2.5-month high on Thursday, with the dollar, euro, and sterling falling over 1% ahead of next week's BOJ meeting.
2024-07-25The US dollar rose on Wednesday as traders awaited inflation data. June home sales fell more than expected, and median prices hit a record high.
2024-07-24