2023-10-13
EBC Forex Snapshot
13 Oct 2023
The dollar held firm on Friday as stronger-than-expected US inflation revived prospects that the Fed will have to keep interest rates higher for longer. The yen is retesting the 150 level briefly touched last week.
The officials lately suggested that rising yields was doing the Fed’s work for them, so it remains largely uncertain if there will be another hike next month following hot CPI and last Friday’s job report.
The australian dollar was weighed down by soft Chinese inflation data. But the country’s exports and imports both shrank at slower pace for a second month in September.
| Citi (as of 3 Oct) | HSBC (as of 13 Oct) | |||
| support | resistance | support | resistance | |
| EUR/USD | 1.0477 | 1.0834 | 1.0430 | 1.0638 |
| GBP/USD | 1.2011 | 1.2308 | 1.2026 | 1.2328 |
| USD/CHF | 0.8745 | 0.9338 | 0.8963 | 0.9222 |
| AUD/USD | 0.6300 | 0.6522 | 0.6231 | 0.6449 |
| USD/CAD | 1.3302 | 1.3695 | 1.3474 | 1.3844 |
| USD/JPY | 144.54 | 150.15 | 147.06 | 150.85 |
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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