The AUD hit a one-year low - EBC Daily Snapshot

2023-10-26

Summary:

The dollar hovered near a three-week high on Thursday, while the yen hit a low for the year of 150.78 in intraday trading.

EBC Forex Snapshot

25 Oct 2023

The dollar hovered around its near three-week high on Thursday, buoyed by rising Treasury yields and safe-haven demand. The yen hit a fresh yearly low of 150.78 per dollar.

The Australian dollar slid to a one-year low too as Reserve Bank Governor Michele Bullock tried to downplay higher-than-expected CPI in her remark.

money market bets eased, now implying a 68% chance of a rate hike next month, down from more than 80% on Wednesday.

AUDUSD

The Australian economy paints a mixed picture. Retail sales barely grew in August though the unemployment rate unexpectedly slid to 3.6% last month.

Citibank vs. HSBC Currency Pair Data Comparison
	Citi (as of 16 Oct)		HSBC (as of 26 Oct)
	support	resistance	support	resistance
EUR/USD	1.0443	1.0834	1.0465	1.0677
GBP/USD	1.2011	1.2387	1.2017	1.2268
USD/CHF	0.8745	0.9338	0.8844	0.9133
AUD/USD	0.6286	0.6522	0.6239	0.6421
USD/CAD	1.3381	1.3785	1.3637	1.3884
USD/JPY	146.00	150.16	148.80	150.96

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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