The Canadian dollar remains at 3-month lows

2024-03-26
Summary:

Tuesday saw the dollar decline due to profit-taking and pressure from a firmer yen, fueled by ongoing Japanese government efforts to support it.

EBC Forex Snapshot, 26 Mar 2024


The dollar dropped on Tuesday, owing to profit-taking and pressured in part by a slightly stronger yen as Japanese government officials continued with their jawboning to defend the currency.


With a relatively light economic data calendar for the week, FX volatility has been muted. The Canadian dollar hovered around its weakest level in more than three months against the dollar despite of oil rally.

USDCAD

Canadian retail sales fell 0.3% in January from December, weighed down by lower goods prices and sales of motor vehicle and parts. The country’s factory sales rose 0.7% in February on a monthly basis.

Citibank vs. HSBC Currency Pair Data Comparison

Citi (as of 18 Mar) HSBC (as of 26 Mar)

support resistance support resistance
EUR/USD 1.0695 1.1017 1.0764 1.0944
GBP/USD 1.2503 1.2896 1.2506 1.2827
USD/CHF 0.8741 0.9000 0.8807 0.9099
AUD/USD 0.6443 0.6691 0.6464 0.6641
USD/CAD 1.3359 1.3607 1.3463 1.3660
USD/JPY 146.26 149.21 147.97 153.36

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 yen hit its weakest level in three decades

The yen hit its weakest level in three decades

The yen hit a 30-year low against the dollar after the BOJ kept rates steady. The dollar stayed stable despite weak US growth last quarter.

2024-04-26
The US dollar was slightly lower on Thursday

The US dollar was slightly lower on Thursday

The US dollar dipped on Thursday as European currencies strengthened. US business activity slowed in April, signaling a global economic shift.

2024-04-25
The dollar closed close to April lows on Wednesday

The dollar closed close to April lows on Wednesday

The dollar remained steady at its lowest level since April 12. Positive business activity in Europe in April impacted the greenback negatively.

2024-04-24

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EBC Financial Group is owned and operated by EBC Group.
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.
EBC Group Limited (BVI), with registered address at Trident Chambers, P.O. Box 146, Road Town, Tortola, British Virgin Islands is owned and operated by EBC Group.
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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EBC Financial Group (Cayman) Limited is licensed and regulated by the Cayman Islands Monetary Authority (Number: 2038223). website: www.ebcgroup.ky
Business Address: Level 17, Dashwood House, 69 Old Broad Street, London, England, EC2M 1QS,United Kingdom.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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