Dollar Set to Record 3rd Straight Month of Decline

2024-09-27
Summary:

The dollar wobbled on Friday, heading for a third month of declines as investors assessed Fed policy, while China's stimulus boosted risk currencies.

EBC Forex Snapshot, 27 Sep 2024


The dollar wobbled on Friday and looked set for a third straight month of declines as investors weighed Fed’s policy, while China's spree of stimulus measures kept risk-sensitive currencies aloft.


The yen saw wild swings as Japan’s leadership contest heat up. Markets braced for the victory of hardline nationalist Sanae Takaichi, a vocal opponent of further tightening in Japan.

USDJPY

Data showed core inflation in Japan's capital matched the 2% target this month, a sign the economy is making progress in meeting the criteria for further rate hikes.

Citibank vs. HSBC Currency Pair Data Comparison

Citi (as of 23 Sep) HSBC (as of 27 Sep)

support resistance support resistance
EUR/USD 1.0857 1.1202 1.1047 1.1259
GBP/USD 1.2812 1.3353 1.3131 1.3566
USD/CHF 0.8375 0.8749 0.8384 0.8544
AUD/USD 0.6622 0.6871 0.6706 0.6995
USD/CAD 1.3441 1.3792 1.3372 1.3601
USD/JPY 139.50 147.13 141.14 146.89

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.
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