The Australian dollar nears July's peak.

2024-08-09

Summary:

The dollar hovered near a one-week high Friday after US jobless claims fell to a year-low. The Australian dollar neared its late-July peak.

EBC Forex Snapshot, 9 Aug 2024

The dollar hovered close to a one-week high on Friday, after the biggest drop in US jobless claims in close to a year. The Australian dollar traded around its highest level since late July.

Data showed there were 233k initial jobless claims last week, below the 240k expected by economists and down from 250k the week before, easing worries of a slowdown in the world's largest economy.

AUDUSD

The RBA will not hesitate to raise interest rates if needed to control inflation, its chief said on Thursday, reinforcing its hawkish messaging as the pace of underlying inflation remained high.

Citibank vs. HSBC Currency Pair Data Comparison
	Citi (as of 5 Aug)		HSBC (as of 9 Aug)
	support	resistance	support	resistance
EUR/USD	1.0796	1.0948	1.0793	1.1026
GBP/USD	1.2613	1.2894	1.2625	1.2905
USD/CHF	0.8551	0.8827	0.8422	0.8915
AUD/USD	0.6466	0.6653	0.6391	0.6747
USD/CAD	1.3590	1.3899	1.3639	1.3882
USD/JPY	145.37	150.00	140.09	156.04

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.

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Next： The Euro Nears One-Month Low

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