Euro in twelfth week of declines - EBC Daily Snapshot
2023-10-06
Summary:
The euro was set for a twelfth week of declines against the dollar ahead of key US job report. That will mark the longest losing streak on record.
EBC Forex Snapshot
6 Oct 2023
The euro was set for a twelfth week of declines against the dollar ahead of key US job report. That will mark the longest losing streak on record.
The pair has been largely driven by the dollar’s strength due to a rapid selloff in Treasuries and the Fed’s hawkish stance. Meanwhile sterling rallied slightly after hitting its six-month low.
The Swiss franc was on track to finish the week stronger against the greenback – the only one among G10 currency.
| Citi (as of 3 Oct) | HSBC (as of 5 Oct) | |||
| support | resistance | support | resistance | |
| EUR/USD | 1.0477 | 1.0834 | 1.0388 | 1.0677 |
| GBP/USD | 1.2011 | 1.2308 | 1.1967 | 1.2356 |
| USD/CHF | 0.8745 | 0.9338 | 0.8985 | 0.9299 |
| AUD/USD | 0.6300 | 0.6522 | 0.6234 | 0.6462 |
| USD/CAD | 1.3302 | 1.3695 | 1.3488 | 1.3889 |
| USD/JPY | 144.54 | 150.15 | 147.57 | 150.42 |
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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