The euro's recent performance has been sluggish

2024-04-12
Summary:

The dollar rose moderately on Friday as weaker-than-expected March US PPI did not relieve concerns that the Fed will delay loosening this year.

EBC Forex Snapshot, 12 Apr 2024


The dollar rose moderately on Friday as weaker-than-expected March US PPI did not relieve concerns that the Fed will delay loosening this year.


There were 211,000 initial jobless claims for the week ended April 6, compared with a forecast for 215,000. Traders have priced in a roughly 69% chance of policy pivot in September, the CME's FedWatch tool showed.

EURUSD

The euro was eyeing its sharpest weekly fall in about four months after the ECB kept interest rates unchanged and sent the clearest signal so far that it was ready to cut interest rates.

Citibank vs. HSBC Currency Pair Data Comparison

Citi (as of 25 Mar) HSBC (as of 12 Apr)

support resistance support resistance
EUR/USD 1.0695 1.1017 1.0652 1.0840
GBP/USD 1.2503 1.2896 1.2469 1.2670
USD/CHF 0.8741 0.9112 0.8993 0.9175
AUD/USD 0.6443 0.6691 0.6462 0.6627
USD/CAD 1.3359 1.3607 1.3534 1.3784
USD/JPY 146.66 151.91 151.61 154.01

The green numbers in the table indicate that the data has increased compared with the previous time; the red numbers indicate that the data has decreased compared with the previous time; and the black numbers indicate that the data has remained unchanged.


Disclaimer: This material is for general information purposes only and is not intended as (and should not be considered to be) financial, investment or other advice on which reliance should be placed. No opinion given in the material constitutes a recommendation by EBC or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person.

Swiss franc rises for three consecutive days

Swiss franc rises for three consecutive days

The dollar fell against most currencies and was set for its worst week in nearly two months, partly due to a sharp rise in the yen this week.

2024-05-03
USD/JPY Slides on Thursday: Market Update

USD/JPY Slides on Thursday: Market Update

USD/JPY Slides on Thursday, reversing gains from intervention. The dollar had been weak after the Fed's dovish meeting.

2024-05-02
The dollar edged up Tuesday before the Fed meeting

The dollar edged up Tuesday before the Fed meeting

The dollar rose slightly on Tuesday ahead of the Fed meeting. CME Group's FedWatch tool showed a 44% chance of a rate cut in September.

2024-04-30