The dollar fell broadly on Friday


Friday's tech earnings on Wall Street lifted risk appetite, causing the dollar's broad decline and marking its first weekly loss this year.

EBC Forex Snapshot

2 Feb 2024

The dollar fell broadly on Friday as upbeat big tech earnings on Wall Street boosted investors' appetite for risk assets. The currency was on track for its first weekly loss of the year.

Sterling was muted after the BOE kept interest rates on hold but opened up the possibility of cuts. The vote, which split the MPC 6-3, pointed to a difference in opinion among board members.


UK headline inflation unexpectedly nudged upward to an annual 4% in December on the back of a rise in alcohol and tobacco prices, while core CPI figure was unchanged at 5.1%.

Citibank vs. HSBC Currency Pair Data Comparison

Citi (as of 22 Jan) HSBC (as of 1 Feb)

support resistance support resistance
EUR/USD 1.0848 1.1139 1.0744 1.0937
GBP/USD 1.2536 1.2848 1.2590 1.2782
USD/CHF 0.8333 0.8667 0.8489 0.8731
AUD/USD 0.6526 0.6900 0.6483 0.6688
USD/CAD 1.3177 1.3619 1.3336 1.3536
USD/JPY 140.59 148.80 144.55 149.01

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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The dollar tracked toward monthly gains on Thursday

The dollar tracked toward monthly gains on Thursday

The dollar edged higher before key inflation data, while the Swiss franc remains weakest among G10 currencies this month.

The dollar inched up on Wednesday

The dollar inched up on Wednesday

Despite US durable goods orders falling more than expected, the dollar edged up on Wednesday. The market mostly excludes a Fed rate cut before June.

​Gas prices suffer triple blow

​Gas prices suffer triple blow

U.S. natural gas prices hit a 3-year low due to a warm winter, excess inventory, and high production. European prices are back to pre-invasion levels.