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.

GBPUSD

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.

Citibank vs. HSBC Currency Pair Data Comparison
	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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