The US dollar traded sideway largely near its two-week low on Wednesday as investors await the FOMC meeting minutes for more clues on interest rate path.
EBC Forex Snapshot
11 Oct 2023
The US dollar traded sideway largely near its two-week low on Wednesday as investors await the FOMC meeting minutes for more clues on interest rate path.
Atlanta Fed Bank President Raphael Bostic said the central bank did not need to raise borrowing costs any further. His view was then echoed by Minneapolis Fed President Neel Kashkari.
China is preparing to bring a new round of stimulus to meet Beijing's annual growth target, Bloomberg News reported on Tuesday. The two Antipodean currencies were buoyed before paring their gains later.
Citi (as of 3 Oct) | HSBC (as of 11 Oct) | |||
support | resistance | support | resistance | |
EUR/USD | 1.0477 | 1.0834 | 1.0476 | 1.0700 |
GBP/USD | 1.2011 | 1.2308 | 1.2112 | 1.2380 |
USD/CHF | 0.8745 | 0.9338 | 0.8969 | 0.9181 |
AUD/USD | 0.6300 | 0.6522 | 0.6309 | 0.6527 |
USD/CAD | 1.3302 | 1.3695 | 1.3404 | 1.3774 |
USD/JPY | 144.54 | 150.15 | 147.33 | 150.12 |
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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Following strong economic news, the dollar was steady on Friday. US GDP grew at a 2.8% annual rate last quarter, beating expectations.
2024-07-26The yen reached a 2.5-month high on Thursday, with the dollar, euro, and sterling falling over 1% ahead of next week's BOJ meeting.
2024-07-25The US dollar rose on Wednesday as traders awaited inflation data. June home sales fell more than expected, and median prices hit a record high.
2024-07-24