The dollar steadied on Monday - EBC Daily Snapshot

2023-09-25

Summary:

The dollar steadied on Monday and rose against the yen to an almost 11-month high on Monday. The dollar on Friday touched an over six-month high.

EBC Forex Snapshot

25 Sep 2023

The dollar steadied on Monday and rose against the yen to an almost 11-month high on Monday. The dollar on Friday touched an over six-month high.

The single currency was on track to lose roughly 1.9% for the month, its steepest monthly fall since May, amid growing recession fears.

The euro zone economy is likely contract this quarter and won't return to growth anytime soon, a survey showed.

EURUSD

The ECB has reached the point where it needs to be wary of over-tightening and should try to avoid a hard landing of the economy, ECB policymaker Francois Villeroy de Galhau said on Monday.

Citibank vs. HSBC Currency Pair Data Comparison
	Citi (as of 11 Sep)		HSBC (as of 25 Sep)
	support	resistance	support	resistance
EUR/USD	1.0688	1.1091	1.0577	1.0762
GBP/USD	1.2448	1.2800	1.2101	1.2503
USD/CHF	0.8556	0.8945	0.8890	0.9137
AUD/USD	0.6365	0.6522	0.6360	0.6516
USD/CAD	1.3387	1.3705	1.3343	1.3659
USD/JPY	144.54	148.85	146.68	149.27

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.

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