The dollar started the week on the back foot

2023-12-26
Summary:

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.

AUDUSD

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.

Citibank vs. HSBC Currency Pair Data Comparison

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.


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 Australian dollar was unaffected on Wednesday

The Australian dollar was unaffected on Wednesday

Wednesday saw the dollar rise as the Fed might delay rate cuts. The Aussie dollar stayed flat after strong inflation data.

2024-05-29
Eurozone inflation rises on Tuesday

Eurozone inflation rises on Tuesday

Tuesday saw the dollar weaken slightly amid a rising risk appetite, holding steady in Asia with minimal currency movement.

2024-05-28
The dollar made a steady start to the week on Monday

The dollar made a steady start to the week on Monday

The dollar started steady on Monday, with markets eyeing inflation data. Bullish sentiment fades as the US economy cools.

2024-05-27