The dollar drifted lower in the Asia session

2023-12-12
Summary:

The dollar drifted lower in the Asia session on Tuesday as traders turned their focus on US inflation data and a slew of central bank meetings ahead.

EBC Forex Snapshot


12 Dec 2023


The dollar drifted lower in the Asia session on Tuesday as traders turned their focus on US inflation data and a slew of central bank meetings ahead.


Economists polled by Reuters expect headline inflation to have been flat for November, and core inflation to keep steady at an annual pace of 4%.

AUDUSD

Markets see a roughly 50% chance the first Fed rate cut will come as soon as March, according to the CME's Fedwatch tool.


Higher iron ore prices and a rebound in Chinese property shares helped push the Australian dollar higher. The commodity climbed by almost two-fifths since May, driven by a surge in Chinese steel production

Citibank vs. HSBC Currency Pair Data Comparison

Citi (as of 1 Dec) HSBC (as of 11 Dec)

support resistance support resistance
EUR/USD 1.0852 1.102 1.0650 1.0945
GBP/USD 1.2347 1.2746 1.2417 1.2704
USD/CHF 0.8684 0.8957 0.8682 0.8892
AUD/USD 0.6522 0.6750 0.6501 0.6671
USD/CAD 1.3417 1.3695 1.3454 1.3742
USD/JPY 146.70 151.91 141.17 149.21

The green numbers in the table indicate an increase in data, the red numbers indicate a decrease in data, and the black numbers indicate that the data remains 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 Canadian dollar rebounded from an eight-week low

The Canadian dollar rebounded from an eight-week low

Following strong economic news, the dollar was steady on Friday. US GDP grew at a 2.8% annual rate last quarter, beating expectations.

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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.
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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