EBC Daily Snapshot of 20 Sep 2023

2023-09-20

Summary:

The dollar remained firm on Wednesday ahead of a much-anticipated rate decision by the Fed which will almost certainly keep rates on hold later.

EBC Forex Snapshot

20 Sep 2023

The dollar remained firm on Wednesday ahead of a much-anticipated rate decision by the Fed which will almost certainly keep rates on hold later.

Japan's top financial diplomat, Masato Kanda, reiterated warnings on Wednesday, saying authorities are always in close contact on currencies with US counterparts while keeping a close watch on forex moves.

USDJPY

Speculation increased about a possible sooner-than-expected exit from the BOJ’s ultra-loose policy, but it will most likely reassure markets that monetary stimulus will stay for a while at Friday’s meeting.

Citibank vs. HSBC Currency Pair Data Comparison
	Citi (as of 11 Sep)		HSBC (as of 20 Sep)
	support	resistance	support	resistance
EUR/USD	1.0688	1.1091	1.0558	1.0868
GBP/USD	1.2448	1.2800	1.2261	1.2627
USD/CHF	0.8556	0.8945	0.8836	0.9049
AUD/USD	0.6365	0.6522	0.6366	0.6532
USD/CAD	1.3387	1.3705	1.3319	1.3635
USD/JPY	144.54	148.85	145.54	149.07

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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