The dollar stood strong - EBC Daily Snapshot

2023-10-19
Summary:

On Thursday, the dollar stayed strong amid market swings, with rising Treasury yields expected due to a hawkish tone from Fed Chair Powell later.

EBC Forex Snapshot


19 Oct 2023


The dollar held firm on Thursday amid market volatility. Treasury yields continued to rise as the Fed Chair Powell was expected to deliver a hawkish vibe a later today.


The Australian dollar slid after domestic jobs data surprised to the downside. Australia employment rose 6,700 in September, undershooting market forecast for an increase of around 20,000.

USDJPY

The yen hovered around the two-week low close to the psychological 150 mark. The BOJ announced a $2 billion bond buying to tame yields which rose to a fresh decade high on Wednesday.

Citibank vs. HSBC Currency Pair Data Comparison

Citi (as of 9 Oct) HSBC (as of 19 Oct)

support resistance support resistance
EUR/USD 1.0443 1.0834 1.0442 1.0634
GBP/USD 1.2011 1.2308 1.2004 1.2306
USD/CHF 0.8745 0.9338 0.8880 0.9171
AUD/USD 0.6272 0.6522 0.6246 0.6464
USD/CAD 1.3417 1.3805 1.3492 1.3862
USD/JPY 146.00 150.16 148.14 150.93

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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