The euro rises on Thursday - EBC Daily Snapshot

2023-11-09
Summary:

Euro rose vs. dollar on Thursday after hawkish ECB remarks and falling energy prices, while Aussie and loonie fell due to commodity links.

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.

GBPUSD

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.

Citibank vs. HSBC Currency Pair Data Comparison

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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The Australian dollar was unaffected on Wednesday

The Australian dollar was unaffected on Wednesday

Wednesday saw the dollar rise as the Fed might delay rate cuts. The Aussie dollar stayed flat after strong inflation data.

2024-05-29
Eurozone inflation rises on Tuesday

Eurozone inflation rises on Tuesday

Tuesday saw the dollar weaken slightly amid a rising risk appetite, holding steady in Asia with minimal currency movement.

2024-05-28
The dollar made a steady start to the week on Monday

The dollar made a steady start to the week on Monday

The dollar started steady on Monday, with markets eyeing inflation data. Bullish sentiment fades as the US economy cools.

2024-05-27