The Australian dollar gives up gains

2023-11-29
Summary:

The dollar hit a more than three-month low on Wednesday. The Australian dollar pared some of its gains as inflation eased by more than expected in Oct.

EBC Forex Snapshot


29 Nov 2023


The dollar hit a more than three-month low on Wednesday. The Australian dollar pared some of its gains as inflation eased by more than expected in Oct.


Market pricing currently shows a more than 40% chance the Fed could begin easing monetary policy as early as next March, as compared to a roughly 22% chance a day earlier, according to the CME FedWatch tool.

AUDUSD

The consumer price index rose at an annual clip of 4.9% last month compared with a 5.6% pace in September alone, the ABS said. Government support helped to moderate the increases in rents and electricity.

Citibank vs. HSBC Currency Pair Data Comparison

Citi (as of 20 Nov) HSBC (as of 29 Nov)

support resistance support resistance
EUR/USD 1.0517 1.0945 1.0757 1.1120
GBP/USD 1.2037 1.2525 1.2340 1.2889
USD/CHF 0.8745 0.9338 0.8673 0.8970
AUD/USD 0.6340 0.6520 0.6431 0.6770
USD/CAD 1.3640 1.3899 1.3459 1.3772
USD/JPY 149.21 151.91 145.45 150.72

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.

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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EBC Financial Group (Cayman) Limited is licensed and regulated by the Cayman Islands Monetary Authority (Number: 2038223). Website: www.ebcgroup.ky
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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