The dollar was firm in Asian trading on Monday


USD steady Monday, watching inflation and US bond yields. The Fed may cut 50% in June. AUD up on commodities; iron ore futures rise on China demand.

EBC Forex Snapshot,8 Apr 2024

The dollar was firm in Asian trading on Monday as investors looked ahead to US inflation data after the big payrolls number last week, and as Treasury yields reached for December highs.

The US rate futures market has reduced the odds of a June rate cut to 50%, the CME's FedWatch tool showed. The Australian dollar inched up due to commodity prices rally.


Iron ore futures pushed back above $100 a ton on speculation that demand may pick up in China. Steel demand from construction and manufacturing “both have potential to improve,” said China Industrial Futures.

Citibank vs. HSBC Currency Pair Data Comparison

Citi (as of 25 Mar) HSBC (as of 8 Apr)

support resistance support resistance
EUR/USD 1.0695 1.1017 1.0725 1.0944
GBP/USD 1.2503 1.2896 1.2514 1.2781
USD/CHF 0.8741 0.9112 0.8869 0.9127
AUD/USD 0.6443 0.6691 0.6493 0.6648
USD/CAD 1.3359 1.3607 1.3478 1.3672
USD/JPY 146.66 151.91 149.76 152.71

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.

The dollar pushed to a fresh eight-week top

The dollar pushed to a fresh eight-week top

The dollar rose to an eight-week high above 159 yen on Friday as the Fed's patient rate-cut stance contrasted with more dovish global positions.

Thursday's Dollar Strengthens Slightly

Thursday's Dollar Strengthens Slightly

The dollar rose as Fed Governor Adriana Kugler sees policy as "sufficiently restrictive" to control inflation without major job market harm.

Wednesday's Retail Sales Data Hits Dollar

Wednesday's Retail Sales Data Hits Dollar

The dollar rose on weak retail sales data, hinting at Fed rate cuts; sterling climbed as UK inflation hit 2% for the first time in nearly 3 years.