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.
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.
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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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