Yen stabilizes after losses on Wednesday

2024-03-13
Summary:

The US dollar steadies as inflation surpasses expectations, prompting doubts about the Fed's ability to justify multiple rate cuts this year.

EBC Forex Snapshot, 13 Mar 2024


The US dollar held steady against its major peers on Wednesday, as hotter-than-expected inflation left analysts wondering whether the Fed will have sufficient data to justify more than a couple of rate cuts all year.


The yen firmed following its biggest loss in a month. The BOJ governor Kazuo Ueda said on Tuesday that the economy was recovering but also showing some signs of weakness.

USDJPY

Expectations are for bumper pay raises, with a number of Japan's biggest companies already saying they had agreed to fully meet union demands for pay increases at annual wage negotiations.

Citibank vs. HSBC Currency Pair Data Comparison

Citi (as of 4 Mar) HSBC (as of 13 Mar)

support resistance support resistance
EUR/USD 1.0695 1.1017 1.0819 1.1005
GBP/USD 1.2476 1.2827 1.2628 1.2924
USD/CHF 0.8551 0.9013 0.8701 0.8865
AUD/USD 0.6443 0.6624 0.6498 0.6689
USD/CAD 1.3359 1.3606 1.3402 1.3590
USD/JPY 146.68 151.91 145.82 150.19

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 Dollar Gained Further in Asian Trading Monday

The Dollar Gained Further in Asian Trading Monday

The dollar held gains and rose slightly in Asia Monday as Japan's holiday cut liquidity, focusing attention on China's disappointing stimulus.

2024-10-14
Euro Stabilizes After Rebounding from 2-Month Low

Euro Stabilizes After Rebounding from 2-Month Low

The US dollar dipped from a two-month high but is set for a second consecutive weekly gain as weak labor market signals support faster Fed rate cuts.

2024-10-11
Australian Dollar Rebounds from Mid-September Lows

Australian Dollar Rebounds from Mid-September Lows

The US hovered near a two-month high on Thursday as markets grew confident in the Fed's patient monetary policy ahead of a key inflation report.

2024-10-10
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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
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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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