USD Near Multi-Week Low on Tuesday

2024-07-09
Summary:

US dollar near multi-week low, 76% odds of a September rate cut per CME Group's FedWatch Tool ahead of Powell's testimony.

EBC Forex Snapshot, 9 Jul 2024


The US dollar hung near a multi-week low on Tuesday as Fed Chair Jerome Powell is ready to testify before Congress. Traders set about 76% odds for a rate cut in September, according to the CME Group's FedWatch Tool.


The euro was little changed while data worsened. German industrial production unexpectedly fell in May, adding to signs that manufacturing in Europe's largest economy will not recover in the coming months.

EURUSD

Investor morale in the euro zone broke an eight-month streak of improvements with a bigger-than-expected decline in July, a survey showed, describing the results as a "bitter setback".

Citibank vs. HSBC Currency Pair Data Comparison

Citi (as of 2 Jul) HSBC (as of 9 Jul)

support resistance support resistance
EUR/USD 1.0666 1.0916 1.0709 1.0889
GBP/USD 1.2616 1.2860 1.2661 1.2896
USD/CHF 0.8827 0.9158 0.8853 0.9073
AUD/USD 0.6595 0.6729 0.6648 0.6792
USD/CAD 1.3577 1.3846 1.3572 1.3727
USD/JPY 156.23 163.40 158.27 162.67

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.

The yen was off its seven-week low

The yen was off its seven-week low

The dollar held seven-week highs on Tuesday as investors cut rate-cut bets after a strong jobs report, while Middle East tensions weighed on it.

2024-10-08
The yen dipped to its lowest level in nearly two months

The yen dipped to its lowest level in nearly two months

The dollar rallied on strong US jobs data and escalating Middle East conflict, while the yen fell to its lowest level in nearly two months.

2024-10-07
Eurozone Inflation Dropped to 1.8% Last Month

Eurozone Inflation Dropped to 1.8% Last Month

The dollar gained support Thursday as the Fed is not expected to cut interest rates soon, while the euro stayed near a three-week low.

2024-10-03
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EBC Financial Group is a co-brand shared by a group of entities including:
EBC Financial Group (SVG) LLC is authorized by the St.Vincent and the Grenadines Financial Services Authority(SVGFSA),and the company registration number is 353 LLC 2020. with registered address at Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines.
Other Relevant Entities
EBC Financial Group (UK) Limited is authorised and regulated by the Financial Conduct Authority. Reference Number: 927552. Website: www.ebcfin.co.uk
EBC Financial Group (Australia) Pty Ltd (ACN: 619 073 237) is authorised and regulated by the Australian Securities and Investments Commission (Number: 500991). EBC Financial Group (Australia) Pty Ltd is a related entity of EBC Financial Group (SVG) LLC. The two entities are managed separately. The financial products and services offered on this website are NOT provided by the Australian entity and no recourse against the Australian entity is available.
EBC Financial Group (Cayman) Limited is licensed and regulated by the Cayman Islands Monetary Authority (Number: 2038223). Website: www.ebcgroup.ky
Business Address: The Leadenhall Building, 122 Leadenhall Street, London, United Kingdom, EC3V 4AB. Email Address : [email protected]. Telephone : +44 20 3376 9662
Disclaimer: EBC Financial Group explicitly does not participate in any cryptocurrency activities or offer Crypto Contracts for Difference (CFDs). Our financial services solely pertain to traditional instruments. Clients are advised that any references to crypto-related services using the EBC name are inaccurate and unauthorized. Any reference to past performance is not indicative of future performance. The information contained in this website is provided for reference only and does not constitute any investment advice.
Regional Restrictions: EBC does not offer any services to citizens and residents of certain jurisdictions including: Afghanistan, Belarus, Burma (Myanmar), Canada, Central African Republic, Congo, Cuba, Democratic Republic of the Congo, Eritrea, Haiti, Iran, Iraq, Lebanon, Libya, Malaysia, Mali, North Korea (Democratic People's Republic of Korea), Russia, Somalia, Sudan, South Sudan, Syria, Ukraine (including Crimea, Donetsk, and Luhansk Regions), the United States, Venezuela, and Yemen. For more information, please check out our FAQs.
Compliance Disclosure：The website can be accessed globally and is not specific to any entity. Your actual rights and obligations will be determined based on the entity and jurisdiction that you choose to be regulated.There may be local laws and regulations which prohibit or limit your rights to access, download, distribute, disseminate, share or otherwise use any or all of the documents and information published on this website.
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