The dollar was range-bound - EBC Daily Snapshot
2023-10-17
Summary:
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.
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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