The dollar closed close to April lows on Wednesday

2024-04-24
Summary:

The dollar remained steady at its lowest level since April 12. Positive business activity in Europe in April impacted the greenback negatively.

EBC Forex Snapshot, 24 Apr 2024


The dollar was flat on Wednesday around its lowest since 12 April. Data showed business activity kept up its positive momentum across Europe in April, to the detriment of the greenback.


The yen was flirting with the key 155 level although Finance Minister Shunichi Suzuki said last week's meeting with his US counterpart has laid the groundwork for Tokyo to act against excessive yen moves.

USDJPY

Japanese government bond yields mostly reached their levels not seen in more than a decade, as traders looked ahead to the BOJ's policy-setting meeting at the end of this week.

Citibank vs. HSBC Currency Pair Data Comparison

Citi (as of 22 Apr) HSBC (as of 23 Apr)

support resistance support resistance
EUR/USD 1.0600 1.0885 1.0540 1.0826
GBP/USD 1.2337 1.2709 1.2194 1.2607
USD/CHF 0.8999 0.9152 0.9026 0.9181
AUD/USD 0.6339 0.6668 0.6325 0.6609
USD/CAD 1.3478 1.3862 1.3500 1.3871
USD/JPY 150.88 155.00 152.14 156.20

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 hovering near a two-week low

The yen was hovering near a two-week low

Tuesday: dollar stable, yen near a 2-week low. Japan's April PPI was unchanged from March, lifted by higher crude oil prices.

2024-05-14
The dollar consolidated on Monday

The dollar consolidated on Monday

The dollar steadied on Monday with softer US payrolls, easing inflation fears. Markets anticipate 61.2% odds of Fed rate cuts in September.

2024-05-13
The dollar weakened in early Asian trading on Friday

The dollar weakened in early Asian trading on Friday

In early Asian trading, the dollar weakened on data indicating a cooling labor market. The pound rebounded from its lowest point since April 24.

2024-05-10

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EBC Financial Group is owned and operated by EBC Group.
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.
EBC Group Limited (BVI), with registered address at Trident Chambers, P.O. Box 146, Road Town, Tortola, British Virgin Islands is owned and operated by EBC Group.
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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EBC Financial Group (Cayman) Limited is licensed and regulated by the Cayman Islands Monetary Authority (Number: 2038223). website: www.ebcgroup.ky
Business Address: Level 17, Dashwood House, 69 Old Broad Street, London, England, EC2M 1QS,United Kingdom.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.
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