The dollar hit a one-month low - EBC Daily Snapshot
2023-10-24
Summary:
The dollar hit a one-month low as Treasury yields fell. Upcoming US GDP data on Thursday may further impact bond markets.
EBC Forex Snapshot
24 Oct 2023
The dollar fell to a one-month low on Tuesday after Treasury yields dropped. The US GDP data due on Thursday could trigger more volatile move in bond markets.
Elsewhere, the euro eased on more signs of stagnancy. The eurozone business activity decline unexpectedly this month as demand fell across the region.
German was among the worst in the bloc. Its activity in the services sector contracted while the ongoing slump in manufacturing continued.
| Citi (as of 16 Oct) | HSBC (as of 24 Oct) | |||
| support | resistance | support | resistance | |
| EUR/USD | 1.0443 | 1.0834 | 1.0517 | 1.0751 |
| GBP/USD | 1.2011 | 1.2387 | 1.2076 | 1.2378 |
| USD/CHF | 0.8745 | 0.9338 | 0.8793 | 0.9127 |
| AUD/USD | 0.6286 | 0.6522 | 0.6264 | 0.6425 |
| USD/CAD | 1.3381 | 1.3785 | 1.3576 | 1.3794 |
| USD/JPY | 146.00 | 150.16 | 148.56 | 150.44 |
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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