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 rose to a 4-week high against the euro

The dollar rose to a 4-week high against the euro

On Thursday, the dollar hit a four-week high against the euro as persistent inflation suggested the Fed might avoid a large rate cut next week.

2024-09-12
The yen hit a year-high against the dollar

The yen hit a year-high against the dollar

On Wednesday, the yen surged to its highest level this year against the dollar after Harris and Trump debated ahead of the November election.

2024-09-11
The euro has not fluctuated much

The euro has not fluctuated much

The dollar held steady early Tuesday, with the euro little changed. A weaker jobs report boosts expectations for a 50 bps Fed cut this month.

2024-09-10
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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
EBC Financial Group (Australia) Pty Ltd (ACN: 619 073 237) is authorised and regulated by the Australian Securities and Investments Commission (Number: 500991). EBC Financial Group (Australia) Pty Ltd is a related entity of EBC Financial Group (SVG) LLC. The two entities are managed separately. The financial products and services offered on this website are NOT provided by the Australian entity and no recourse against the Australian entity is available.
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.
Regional Restrictions: EBC does not offer any services to citizens and residents of certain jurisdictions including: Afghanistan, Belarus, Burma (Myanmar), Canada, Central African Republic, Congo, Cuba, Democratic Republic of the Congo, Eritrea, Haiti, Iran, Iraq, Lebanon, Libya, Malaysia, Mali, North Korea (Democratic People's Republic of Korea), Russia, Somalia, Sudan, South Sudan, Syria, Ukraine (including Crimea, Donetsk, and Luhansk Regions), the United States, Venezuela, and Yemen. For more information, please check out our FAQs.
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