The dollar fell on Tuesday

2024-02-27
Summary:

Dollar dropped Tuesday, with markets eyeing upcoming economic data. Expectations for rate cut shifted to June from May, per CME's FedWatch Tool.

EBC Forex Snapshot, 27 Feb 2024


The dollar fell on Tuesday, as markets looked ahead to a week of economic data. Markets have recently pushed back expectations for a cut to June from May, CME's FedWatch Tool showed.


Sterling volatility has hit a four-year low, reflecting the degree of investor complacency and the currency's steady performance. The BOE is expected to act later than the Fed and the ECB this year.

GBPUSD

speculators have trimmed their bullish positions in the pound for the first time in eight weeks, suggesting that they may be on the hunt for a new catalyst to give the currency a bit of fresh pep.


 Citi (as of 19 Feb) HSBC (as of 27 Feb)

support resistance support resistance
EUR/USD 1.0694 1.1017 1.0731 1.0926
GBP/USD 1.2476 1.2827 1.2573 1.2750
USD/CHF 0.8551 0.9013 0.8694 0.8893
AUD/USD 0.6443 0.6624 0.6456 0.6610
USD/CAD 1.3379 1.3586 1.3417 1.3592
USD/JPY 146.09 151.91 148.58 151.84

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 dipped to its lowest level in nearly two months

The yen dipped to its lowest level in nearly two months

The dollar rallied on strong US jobs data and escalating Middle East conflict, while the yen fell to its lowest level in nearly two months.

2024-10-07
Eurozone Inflation Dropped to 1.8% Last Month

Eurozone Inflation Dropped to 1.8% Last Month

The dollar gained support Thursday as the Fed is not expected to cut interest rates soon, while the euro stayed near a three-week low.

2024-10-03
The Yen Stabilized Mid-Range Last Month

The Yen Stabilized Mid-Range Last Month

The US dollar rallied Tuesday as Fed Chair Powell rejected expectations for large rate cuts, while the yen steadied mid-range.

2024-10-01
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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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EBC Financial Group (Cayman) Limited is licensed and regulated by the Cayman Islands Monetary Authority (Number: 2038223). Website: www.ebcgroup.ky
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.
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