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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Following strong economic news, the dollar was steady on Friday. US GDP grew at a 2.8% annual rate last quarter, beating expectations.
2024-07-26The yen reached a 2.5-month high on Thursday, with the dollar, euro, and sterling falling over 1% ahead of next week's BOJ meeting.
2024-07-25The US dollar rose on Wednesday as traders awaited inflation data. June home sales fell more than expected, and median prices hit a record high.
2024-07-24