The dollar consolidated on Thursday

2024-03-28
Summary:

Fed governor Chris Waller's reassurance about interest rates, despite early-year inflation, steadied the dollar on Thursday.

EBC Forex Snapshot, 28 Mar 2024


The dollar consolidated on Thursday as Fed governor Chris Waller said that he is in no hurry to cut interest rates after hotter inflation data played out in the first two months of the year.


Market expectations for the first rate cut in June have eased somewhat. Current pricing has it at a 60% chance, according to the CME FedWatch tool. The focus will shift to a key inflation report due tomorrow.

EURUSD

The euro was largely unchanged around its one-month low. Five of Germany's economic research institutes slash GDP outlook, citing low domestic demand, and high gas and electricity prices hitting exports.

Citibank vs. HSBC Currency Pair Data Comparison

Citi (as of 25 Mar) HSBC (as of 28 Mar)

support resistance support resistance
EUR/USD 1.0695 1.1017 1.0757 1.0937
GBP/USD 1.2503 1.2896 1.2509 1.2830
USD/CHF 0.8741 0.9112 0.8820 0.9163
AUD/USD 0.6443 0.6691 0.6468 0.6633
USD/CAD 1.3359 1.3607 1.3451 1.3648
USD/JPY 146.66 151.91 147.87 153.37

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.
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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