5 months Swiss inflation on mark - EBC Daily Snapshot

2023-11-14

Summary:

Japanese yen near one-year low vs. dollar before the October CPI report; expected inflation drop from 3.7% in September to 3.3%.

EBC Forex Snapshot

14 Nov 2023

The Japanese yen was stuck near a one-year low against the dollar on Tuesday ahead of the Oct’s CPI report. The inflation rate is expected to have slowed to 3.3% from 3.7% in Sep.

The ECB will hold interest rates steady well into next year, with a majority of economists polled by Reuters. The first cut will likely happen until at least July despite impending recession.

USDCHF

The SNB will monitor the development of inflation closely in the coming weeks ahead of its next meeting in December, Chairman Thomas Jordan said on Tuesday. Swiss inflation has stayed within the target for 5 months in a row.

Citibank vs. HSBC Currency Pair Data Comparison
	Citi (as of 6 Nov)		HSBC (as of 14 Nov)
	support	resistance	support	resistance
EUR/USD	1.0448	1.0737	1.0556	1.0797
GBP/USD	1.2037	1.2448	1.2088	1.2448
USD/CHF	0.8745	0.9338	0.8919	0.9112
AUD/USD	0.6400	0.6599	0.6258	0.6512
USD/CAD	1.3569	1.3899	1.3651	1.3923
USD/JPY	147.43	151.95	149.69	152.82

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.

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.

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