The Canadian recovered from a 21-month low

2024-08-06
Summary:

The US dollar was nursing steep losses on Tuesday as the ISM service PMI rebounded from a four-year low in July amid an increase in new orders.

EBC Forex Snapshot, 6 Aug 2024


The US dollar was nursing steep losses on Tuesday as the ISM service PMI rebounded from a four-year low in July amid an increase in new orders.


Fed officials pushed back on Monday against the notion that weaker-than-expected jobs data means the economy is in recession, but also warned that cut rates are needed to avoid such an outcome.

USDCAD

The Canadian recovered from a 21-month low as risk-on mood returned. The economy kept growing despite a slowing pace through Q2, according to preliminary data.

Citibank vs. HSBC Currency Pair Data Comparison

Citi (as of 29 Jul) HSBC (as of 6 Aug)    

support resistance support resistance
EUR/USD 1.0796 1.0981 1.0815 1.1048
GBP/USD 1.2860 1.3045 1.2637 1.2977
USD/CHF 0.8743 0.9050 0.8320 0.8835
AUD/USD 0.6465 0.6799 0.6309 0.6717
USD/CAD 1.3590 1.3899 1.3669 1.3961
USD/JPY 151.53 155.00 137.68 154.63

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 Australian dollar rebounded from a recent low

The Australian dollar rebounded from a recent low

The dollar stayed in tight ranges Monday as investors awaited US inflation data for clues on the Fed's expected rate cut later this month.

2024-09-09
The Swiss franc rose to a more than one-week high

The Swiss franc rose to a more than one-week high

On Friday, the US dollar fell to a one-week low as mixed job market signals emerged before key payroll data likely to influence Fed policy.

2024-09-06
The yen strengthens as a safe haven

The yen strengthens as a safe haven

The dollar fell Thursday on US economic worries, with the yen rising on safe-haven demand. Traders see a 44% chance of a 50-bp cut this month.

2024-09-05
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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
EBC Financial Group (Australia) Pty Ltd (ACN: 619 073 237) is authorised and regulated by the Australian Securities and Investments Commission (Number: 500991). EBC Financial Group (Australia) Pty Ltd is a related entity of EBC Financial Group (SVG) LLC. The two entities are managed separately. The financial products and services offered on this website are NOT provided by the Australian entity and no recourse against the Australian entity is available.
EBC Financial Group (Cayman) Limited is licensed and regulated by the Cayman Islands Monetary Authority (Number: 2038223). Website: www.ebcgroup.ky
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.
Regional Restrictions: EBC does not offer any services to citizens and residents of certain jurisdictions including: Afghanistan, Belarus, Burma (Myanmar), Canada, Central African Republic, Congo, Cuba, Democratic Republic of the Congo, Eritrea, Haiti, Iran, Iraq, Lebanon, Libya, Malaysia, Mali, North Korea (Democratic People's Republic of Korea), Russia, Somalia, Sudan, South Sudan, Syria, Ukraine (including Crimea, Donetsk, and Luhansk Regions), the United States, Venezuela, and Yemen. For more information, please check out our FAQs.
Compliance Disclosure：The website can be accessed globally and is not specific to any entity. Your actual rights and obligations will be determined based on the entity and jurisdiction that you choose to be regulated.There may be local laws and regulations which prohibit or limit your rights to access, download, distribute, disseminate, share or otherwise use any or all of the documents and information published on this website.
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