The Euro Was Little Changed

2024-09-24
Summary:

The dollar wobbled Tuesday as traders boosted bets on future US interest-rate cuts after the Fed signaled more cuts ahead this year.

EBC Forex Snapshot, 24 Sep 2024


The dollar wobbled on Tuesday as traders ramped up their bets on the pace of future US interest-rate cuts after the Fed signalled more cuts coming this year.


The euro was little changed. A survey compiled by S&P Global showed euro zone business activity sharply contracted this month as manufacturers are confronting a mix of sagging global demand.

EURUSD

In contrast, US business activity was steady in September, but average prices charged for goods and services rose at the fastest pace in six months, possibly pointing to an acceleration in inflation in coming months.

Citibank vs. HSBC Currency Pair Data Comparison

Citi (as of 16 Sep) HSBC (as of 24 Sep)

support resistance support resistance
EUR/USD 1.0857 1.1202 1.1012 1.1200
GBP/USD 1.2812 1.3266 1.3110 1.3470
USD/CHF 0.8375 0.8763 0.8383 0.8558
AUD/USD 0.6618 0.6871 0.6688 0.6921
USD/CAD 1.3441 1.3792 1.3454 1.3637
USD/JPY 140.25 147.13 140.25 146.25

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.

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