The Australian dollar nears July's peak.

2024-08-09
Summary:

The dollar hovered near a one-week high Friday after US jobless claims fell to a year-low. The Australian dollar neared its late-July peak.

EBC Forex Snapshot, 9 Aug 2024


The dollar hovered close to a one-week high on Friday, after the biggest drop in US jobless claims in close to a year. The Australian dollar traded around its highest level since late July.


Data showed there were 233k initial jobless claims last week, below the 240k expected by economists and down from 250k the week before, easing worries of a slowdown in the world's largest economy.

AUDUSD

The RBA will not hesitate to raise interest rates if needed to control inflation, its chief said on Thursday, reinforcing its hawkish messaging as the pace of underlying inflation remained high.

Citibank vs. HSBC Currency Pair Data Comparison

Citi (as of 5 Aug) HSBC (as of 9 Aug)

support resistance support resistance
EUR/USD 1.0796 1.0948 1.0793 1.1026
GBP/USD 1.2613 1.2894 1.2625 1.2905
USD/CHF 0.8551 0.8827 0.8422 0.8915
AUD/USD 0.6466 0.6653 0.6391 0.6747
USD/CAD 1.3590 1.3899 1.3639 1.3882
USD/JPY 145.37 150.00 140.09 156.04

The green numbers in the table indicate that the data has increased compared with the previous time; the red numbers indicate that the data has decreased compared with the previous time; and the black numbers indicate that the data has remained 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.

The dollar rose to a 4-week high against the euro

The dollar rose to a 4-week high against the euro

On Thursday, the dollar hit a four-week high against the euro as persistent inflation suggested the Fed might avoid a large rate cut next week.

2024-09-12
The yen hit a year-high against the dollar

The yen hit a year-high against the dollar

On Wednesday, the yen surged to its highest level this year against the dollar after Harris and Trump debated ahead of the November election.

2024-09-11
The euro has not fluctuated much

The euro has not fluctuated much

The dollar held steady early Tuesday, with the euro little changed. A weaker jobs report boosts expectations for a 50 bps Fed cut this month.

2024-09-10
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EBC Financial Group is a co-brand shared by a group of entities including:
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. with registered address at Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines.
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
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Business Address: The Leadenhall Building, 122 Leadenhall Street, London, United Kingdom, EC3V 4AB. Email Address : [email protected]. Telephone : +44 20 3376 9662
Disclaimer: EBC Financial Group explicitly does not participate in any cryptocurrency activities or offer Crypto Contracts for Difference (CFDs). Our financial services solely pertain to traditional instruments. Clients are advised that any references to crypto-related services using the EBC name are inaccurate and unauthorized. Any reference to past performance is not indicative of future performance. The information contained in this website is provided for reference only and does not constitute any investment advice.
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