The dollar eased on Monday


The dollar weakened on renewed expectations of early Fed rate cuts. An unexpected fall in producer prices indicates a continued decline in inflation.

EBC Forex Snapshot

15 Jan 2024

The dollar eased on Monday as investors revived their bets of early rate cuts by the Fed. Producer prices unexpectedly fell last month, suggesting inflation would continue to subside.

Market pricing now points to a 78% chance that the central bank will begin easing rates in March, as compared to a 68% chance a week ago, according to the CME FedWatch tool.


The Australian dollar remained weak due to softer inflation and iron ore dip. The commodity tumbled last week by the most in at least five months on concerns about a weakening economy of top consumer China.

Citibank vs. HSBC Currency Pair Data Comparison

Citi (as of 8 Jan) HSBC (as of 15 Jan)

support resistance support resistance
EUR/USD 1.0833 1.1150 1.0836 1.1100
GBP/USD 1.2536 1.2848 1.2630 1.2850
USD/CHF 0.8333 0.8667 0.8377 0.8622
AUD/USD 0.6641 0.6900 0.6592 0.6824
USD/CAD 1.3177 1.3483 1.3241 1.3509
USD/JPY 139.48 144.96 141.29 147.76

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.

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Dollar's biggest 2.5-month fall vs. euro Friday

Dollar's biggest 2.5-month fall vs. euro Friday

The dollar weakened versus the euro this week on signs of lower inflation and a softer US economy, raising Fed rate-cut expectations.

US Dollar Slips to Multi-Month Lows on Thursday

US Dollar Slips to Multi-Month Lows on Thursday

US core inflation hits a 3-year low, causing the dollar to plummet; the Australian dollar also falls from a 4-month peak due to a weak jobs report.

The dollar is at a one-month low against the euro

The dollar is at a one-month low against the euro

The dollar hit a 1-month low vs. the euro before the US inflation report. Q1's high consumer prices spur a Fed rate cut reassessment.