The dollar was range-bound on Tuesday as the conflict in the Middle East did not spill over and investors awaited a slew of speeches by Fed officials.
EBC Forex Snapshot
17 Oct 2023
The dollar was range-bound on Tuesday as the conflict in the Middle East did not spill over and investors awaited a slew of speeches by Fed officials.
Fed funds futures traders are pricing in a 33% chance of an interest rate hike in December and 10% chance of a hike in November, according to the CME Group's FedWatch Tool.
UK wage growth slowed more than expected in the three months to August while remaining at record highs. Pay has been growing faster than prices for several months in the country.
Citi (as of 9 Oct) | HSBC (as of 17 Oct) | |||
support | resistance | support | resistance | |
EUR/USD | 1.0443 | 1.0834 | 1.0457 | 1.0649 |
GBP/USD | 1.2011 | 1.2308 | 1.2055 | 1.2357 |
USD/CHF | 0.8745 | 0.9338 | 0.8908 | 0.9167 |
AUD/USD | 0.6272 | 0.6522 | 0.6248 | 0.6466 |
USD/CAD | 1.3417 | 1.3805 | 1.3421 | 1.3791 |
USD/JPY | 146.00 | 150.16 | 147.86 | 150.65 |
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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Tuesday: The dollar hit a 3-month low on weak home sales; the Aussie dollar rose to a 4-month high despite a consumption dip.
2023-11-28Sterling hit a two-month high against a weakened dollar on Monday. Traders are wary of upcoming economic data releases later in the week.
2023-11-27The dollar slipped on Friday after the Thanksgiving holiday. Currency markets are likely to be muted with investor convictions in peak US rates.
2023-11-24