The dollar hit a more than three-month low on Wednesday. The Australian dollar pared some of its gains as inflation eased by more than expected in Oct.
EBC Forex Snapshot
29 Nov 2023
The dollar hit a more than three-month low on Wednesday. The Australian dollar pared some of its gains as inflation eased by more than expected in Oct.
Market pricing currently shows a more than 40% chance the Fed could begin easing monetary policy as early as next March, as compared to a roughly 22% chance a day earlier, according to the CME FedWatch tool.
The consumer price index rose at an annual clip of 4.9% last month compared with a 5.6% pace in September alone, the ABS said. Government support helped to moderate the increases in rents and electricity.
Citi (as of 20 Nov) | HSBC (as of 29 Nov) | |||
support | resistance | support | resistance | |
EUR/USD | 1.0517 | 1.0945 | 1.0757 | 1.1120 |
GBP/USD | 1.2037 | 1.2525 | 1.2340 | 1.2889 |
USD/CHF | 0.8745 | 0.9338 | 0.8673 | 0.8970 |
AUD/USD | 0.6340 | 0.6520 | 0.6431 | 0.6770 |
USD/CAD | 1.3640 | 1.3899 | 1.3459 | 1.3772 |
USD/JPY | 149.21 | 151.91 | 145.45 | 150.72 |
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