The dollar closed close to April lows on Wednesday

2024-04-24
Summary:

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

EBC Forex Snapshot, 24 Apr 2024


The dollar was flat on Wednesday around its lowest since 12 April. Data showed business activity kept up its positive momentum across Europe in April, to the detriment of the greenback.


The yen was flirting with the key 155 level although Finance Minister Shunichi Suzuki said last week's meeting with his US counterpart has laid the groundwork for Tokyo to act against excessive yen moves.

USDJPY

Japanese government bond yields mostly reached their levels not seen in more than a decade, as traders looked ahead to the BOJ's policy-setting meeting at the end of this week.

Citibank vs. HSBC Currency Pair Data Comparison

Citi (as of 22 Apr) HSBC (as of 23 Apr)

support resistance support resistance
EUR/USD 1.0600 1.0885 1.0540 1.0826
GBP/USD 1.2337 1.2709 1.2194 1.2607
USD/CHF 0.8999 0.9152 0.9026 0.9181
AUD/USD 0.6339 0.6668 0.6325 0.6609
USD/CAD 1.3478 1.3862 1.3500 1.3871
USD/JPY 150.88 155.00 152.14 156.20

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.

Swiss franc rises for three consecutive days

Swiss franc rises for three consecutive days

The dollar fell against most currencies and was set for its worst week in nearly two months, partly due to a sharp rise in the yen this week.

2024-05-03
USD/JPY Slides on Thursday: Market Update

USD/JPY Slides on Thursday: Market Update

USD/JPY Slides on Thursday, reversing gains from intervention. The dollar had been weak after the Fed's dovish meeting.

2024-05-02
The dollar edged up Tuesday before the Fed meeting

The dollar edged up Tuesday before the Fed meeting

The dollar rose slightly on Tuesday ahead of the Fed meeting. CME Group's FedWatch tool showed a 44% chance of a rate cut in September.

2024-04-30

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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.
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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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