The euro remained on the back foot on Friday


On Friday, the euro weakened as the ECB maintained its expected stance at the policy meeting. Investors increasingly anticipate a rate cut in April.

EBC Forex Snapshot

26 Jan 2024

The euro remained on the back foot on Friday after the ECB stood pat as expected at its policy meeting. But investors ramped up bets that the bank will cut rates in April.

Elsewhere, the yen bounced around the upper 147 range against dollar. Core inflation in Japan's capital slowed to 1.6% in January from a year earlier, below the central bank's 2% target.


Minutes released of the BOJ's December meeting, meanwhile, showed policymakers actively debated in December the conditions for phasing out stimulus.

Citibank vs. HSBC Currency Pair Data Comparison

Citi (as of 15 Jan) HSBC (as of 25 Jan)

support resistance support resistance
EUR/USD 1.0848 1.1139 1.0803 1.0981
GBP/USD 1.2536 1.2848 1.2616 1.2808
USD/CHF 0.8333 0.8667 0.8477 0.8752
AUD/USD 0.6612 0.6900 0.6483 0.6708
USD/CAD 1.3093 1.3177 1.3358 1.3614
USD/JPY 140.59 146.49 144.34 149.73

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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The dollar tracked toward monthly gains on Thursday

The dollar tracked toward monthly gains on Thursday

The dollar edged higher before key inflation data, while the Swiss franc remains weakest among G10 currencies this month.

The dollar inched up on Wednesday

The dollar inched up on Wednesday

Despite US durable goods orders falling more than expected, the dollar edged up on Wednesday. The market mostly excludes a Fed rate cut before June.

​Gas prices suffer triple blow

​Gas prices suffer triple blow

U.S. natural gas prices hit a 3-year low due to a warm winter, excess inventory, and high production. European prices are back to pre-invasion levels.