2024-07-18
EBC Forex Snapshot, 18 Jul 2024
The dollar firmed on Thursday after falling to its lowest level in four months, as growing expectations of rate cuts by the Fed weighed on the greenback and Treasury yields.
New York Fed President John Williams said in an interview that the Fed is "getting closer" to a point where it can start cutting interest rates. However, the IMF noted that progress on disinflation in the U.S. has slowed.
The australian dollar caught a small boost from some mixed jobs data. Employment jumped well beyond expectations in June, yet the jobless rate still ticked higher as more people went looking for work.
| Citi (as of 8 Jul) | HSBC (as of 18 Jul) | |||
| support | resistance | support | resistance | |
| EUR/USD | 1.0666 | 1.0916 | 1.0764 | 1.1028 |
| GBP/USD | 1.2616 | 1.2860 | 1.2732 | 1.3164 |
| USD/CHF | 0.8827 | 0.9158 | 0.8750 | 0.8982 |
| AUD/USD | 0.6595 | 0.6847 | 0.6630 | 0.6811 |
| USD/CAD | 1.3577 | 1.3846 | 1.3594 | 1.3763 |
| USD/JPY | 156.23 | 163.40 | 153.68 | 160.31 |
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.
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