The dollar traded below recent peaks on Thursday

2024-04-04
Summary:

Thursday saw the dollar below peaks while awaiting a US jobs report for rate clues. The Swiss franc fell on easing inflation.

EBC Forex Snapshot, 4 Apr 2024


The dollar traded below recent peaks on Thursday as investors waited on this week's US jobs report to guide the interest rate outlook. The Swiss franc dropped as nflation eased further.


ISM said that its non-manufacturing PMI fell to 51.4 last month from 52.6 in February, the second straight monthly decline, weighing on the greenback which was the best performing G10 currency in Q1.

USDCHF

CPI rose by 1% in Switzerland last month from a year ago, the slowest pace since Sep 2021 This came after the SNB unexpectedly cut interest rates in its last policy meeting.

Citibank vs. HSBC Currency Pair Data Comparison

Citi (as of 25 Mar) HSBC (as of 3 Apr)

support resistance support resistance
EUR/USD 1.0695 1.1017 1.0676 1.0907
GBP/USD 1.2503 1.2896 1.2468 1.2754
USD/CHF 0.8741 0.9112 0.8875 0.9185
AUD/USD 0.6443 0.6691 0.6453 0.6608
USD/CAD 1.3359 1.3607 1.3473 1.3634
USD/JPY 146.66 151.91 148.66 153.21

The green numbers in the table indicate that the data has increased compared with the previous time; the red numbers indicate that the data has decreased compared with the previous time; and the black numbers indicate that the data has remained 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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