The Swiss franc rose to a more than one-week high
2024-09-06
Summary:
On Friday, the US dollar fell to a one-week low as mixed job market signals emerged before key payroll data likely to influence Fed policy.
EBC Forex Snapshot, 6 Sep 2024
The US dollar sagged near a one-week low on Friday with job market indicators sending mixed signals ahead of crucial monthly payrolls data later in the day that is almost certain to set the pace for Fed policy easing.
The number of Americans filing new applications for jobless benefits declined last week as layoffs remained low. That helped allay fears that the labour market was deteriorating rapidly.
The Swiss franc rose to a more than one-week high. The country’s inflation rate was 1.1% in August, softer than the expectation of a 1.2% increase, while the economy grew at a faster rate than expected in Q2.
| Citi (as of 2 Sep) | HSBC (as of 6 Sep) | |||
| support | resistance | support | resistance | |
| EUR/USD | 1.0832 | 1.1202 | 1.1020 | 1.1200 |
| GBP/USD | 1.2860 | 1.3266 | 1.2981 | 1.3318 |
| USD/CHF | 0.8333 | 0.8827 | 0.8333 | 0.8612 |
| AUD/USD | 0.6659 | 0.6871 | 0.6657 | 0.6823 |
| USD/CAD | 1.3420 | 1.3792 | 1.3396 | 1.3652 |
| USD/JPY | 141.70 | 149.39 | 141.15 | 146.72 |
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.
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