The dollar dipped Tuesday as the Trump trade unwound, easing Treasury yields. Harris secured enough delegates for the Democratic nomination.
EBC Forex Snapshot, 23 Jul 2024
The dollar dipped slightly on Tuesday on some unwinding of the so-called Trump trade, which has seen the dollar and Treasury yields ease a touch. Harris has secured enough delegates to clinch the Democratic presidential nomination.
The Australian dollar struggled to regain their footing after China's move to cut several key interest rates – the first time since late August. That move signalled intent to boost growth in the economy.
But iron ore prices barely changed. China's imports have been fairly strong so far this year, with customs data showing arrivals of 611.18 million tons in the first half, 6.2% from the same period in 2023.
Citi (as of 15 Jul) | HSBC (as of 23 Jul) | |||
support | resistance | support | resistance | |
EUR/USD | 1.0796 | 1.0916 | 1.0766 | 1.0979 |
GBP/USD | 1.2860 | 1.2996 | 1.2721 | 1.3094 |
USD/CHF | 0.8832 | 0.9158 | 0.8792 | 0.9024 |
AUD/USD | 0.6647 | 0.6871 | 0.6582 | 0.6750 |
USD/CAD | 1.3577 | 1.3846 | 1.3633 | 1.3821 |
USD/JPY | 157.51 | 160.21 | 154.24 | 160.87 |
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.
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On Friday, the US dollar fell to a one-week low as mixed job market signals emerged before key payroll data likely to influence Fed policy.
2024-09-06The dollar fell Thursday on US economic worries, with the yen rising on safe-haven demand. Traders see a 44% chance of a 50-bp cut this month.
2024-09-05Safe-haven currencies surged Wednesday as Wall Street and Asian stocks fell sharply, leading to losses in commodity currencies.
2024-09-04