The dollar started the week on the back foot on Tuesday in holiday-thinned trade as currency moves were largely muted in the day after Christmas.
EBC Forex Snapshot
26 Dec 2023
The dollar started the week on the back foot on Tuesday in holiday-thinned trade as currency moves were largely muted in the day after Christmas.
The Australian dollar was huddled near its recent five-month high. Five of China's largest state banks lowered deposits rates on Friday, the third round of such cuts this year to boost growth.
China’s post-Covid recovery has been hit by the real estate sector. Last week the serious problems were highlighted when Evergrande filed for bankruptcy protection in the US.
Citi (as of 14 Dec) | HSBC (as of 21 Dec) | |||
support | resistance | support | resistance | |
EUR/USD | 1.0724 | 1.1017 | 1.0771 | 1.1057 |
GBP/USD | 1.2326 | 1.2848 | 1.2491 | 1.2788 |
USD/CHF | 0.8667 | 0.8957 | 0.8538 | 0.8767 |
AUD/USD | 0.6445 | 0.6526 | 0.6575 | 0.6831 |
USD/CAD | 1.3381 | 1.3695 | 1.3244 | 1.3554 |
USD/JPY | 139.48 | 147.50 | 140.22 | 147.62 |
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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Following strong economic news, the dollar was steady on Friday. US GDP grew at a 2.8% annual rate last quarter, beating expectations.
2024-07-26The yen reached a 2.5-month high on Thursday, with the dollar, euro, and sterling falling over 1% ahead of next week's BOJ meeting.
2024-07-25The US dollar rose on Wednesday as traders awaited inflation data. June home sales fell more than expected, and median prices hit a record high.
2024-07-24