The dollar rose to a five-month high on Tuesday

2024-04-16
Summary:

The dollar hit a 5-month high on Tuesday as US retail sales surged 0.7% in March, beating economists' 0.4% forecast.

EBC Forex Snapshot, 16 Apr 2024


The dollar rose to a five-month high on Tuesday following consumption figures. US retail sales rose 0.7% in March from the prior month, beat the 0.4% increase that economists projected.


The Australian dollar struggled around its lowest since mid-November although data showed China’s economy grew faster than expected in Q1. Fitch cut its outlook on the sovereign credit rating to negative last week.

AUDUSD

Investors have increased their allocations to stocks and commodities and dumped bonds, the most bullish since January 2022 –a good sign for commodity currencies, BofA’s monthly fund manager survey showed.

Citibank vs. HSBC Currency Pair Data Comparison

Citi (as of 15 Apr) HSBC (as of 16 Apr)

support resistance support resistance
EUR/USD 1.0517 1.0865 1.0529 1.0800
GBP/USD 1.2337 1.2709 1.2342 1.2628
USD/CHF 0.8999 0.9148 0.9023 0.9178
AUD/USD 0.6443 0.6668 0.6397 0.6587
USD/CAD 1.3478 1.3855 1.3576 1.3896
USD/JPY 150.88 153.39 151.90 155.54

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 dollar edged up Tuesday before the Fed meeting

The dollar edged up Tuesday before the Fed meeting

The dollar rose slightly on Tuesday ahead of the Fed meeting. CME Group's FedWatch tool showed a 44% chance of a rate cut in September.

2024-04-30
USD/JPY Jumps Unexpectedly on Monday

USD/JPY Jumps Unexpectedly on Monday

USD/JPY Surged on Monday, Possibly Due to Japanese Intervention. Top Diplomat Masato Kanda Didn't Confirm or Deny Involvement.

2024-04-29
The yen hit its weakest level in three decades

The yen hit its weakest level in three decades

The yen hit a 30-year low against the dollar after the BOJ kept rates steady. The dollar stayed stable despite weak US growth last quarter.

2024-04-26

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EBC Financial Group is owned and operated by EBC Group.
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.
EBC Group Limited (BVI), with registered address at Trident Chambers, P.O. Box 146, Road Town, Tortola, British Virgin Islands is owned and operated by EBC Group.
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: Level 17, Dashwood House, 69 Old Broad Street, London, England, EC2M 1QS,United Kingdom.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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