2023-11-09
EBC Forex Snapshot
9 Nov 2023
The euro inched higher on the dollar on Thursday, following hawkish remarks from the ECB and the prospect of falling energy prices. But the Aussie and the loonie were down since they are more commodity-linked.
Chief economist Philip Lane said he had not seen enough progress in taming inflation. Huw Pill from the BOE and Fed Chair Powell will make speeches later.
The BOJ may end its negative interest rate policy as early as January, and keep raising short-term borrowing costs if the economy can ride out uncertainties, said former central bank executive Eiji Maeda.
| Citi (as of 30 Oct) | HSBC (as of 9 Nov) | |||
| support | resistance | support | resistance | |
| EUR/USD | 1.0448 | 1.0737 | 1.0563 | 1.0804 |
| GBP/USD | 1.2037 | 1.2337 | 1.2091 | 1.2451 |
| USD/CHF | 0.8745 | 0.9338 | 0.8881 | 0.9107 |
| AUD/USD | 0.6253 | 0.6445 | 0.6272 | 0.6526 |
| USD/CAD | 1.3569 | 1.3862 | 1.3646 | 1.3918 |
| USD/JPY | 147.43 | 151.95 | 149.26 | 152.21 |
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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