Canadian Dollar Hits Multi-Week High

2024-06-25
Summary:

The dollar dipped on political concerns. The Canadian dollar rose to multi-week highs after the BOC predicted growth amid easing inflation.

EBC Forex Snapshot, 25 Jun 2024


The dollar eased slightly on Tuesday with politics at the forefront of investors' minds. Loonie strengthened to its highest in weeks after the BOC said the economy could grow due to cooling inflation.


There is enough slack in the Canadian labour market to allow for growth and the creation of more jobs even as the inflation rate continues to decline, said BOC Governor Tiff Macklem.

USDCAD

Investors see a 72% chance that the central bank would cut interest rates further at the next policy decision on July 24, swaps market data shows. Earlier this month, it became the first G7 central bank to ease policy.

Citibank vs. HSBC Currency Pair Data Comparison

Citi (as of 17 Jun) HSBC (as of 24 Jun)

support resistance support resistance
EUR/USD 1.0688 1.0981 1.0600 1.0849
GBP/USD 1.2612 1.2860 1.2557 1.2797
USD/CHF 0.8885 0.9158 0.8843 0.9012
AUD/USD 0.6564 0.6729 0.6574 0.6704
USD/CAD 1.3577 1.3846 1.3611 1.3784
USD/JPY 151.86 158.26 156.24 161.63

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.

The euro jumped on Monday

The euro jumped on Monday

The euro jumped Monday after the French far right's election win fell short, leaving the final result dependent on party deals.

2024-07-01
Dollar Heads for Second Quarterly Gain

Dollar Heads for Second Quarterly Gain

On Friday, the dollar aimed for a second quarterly gain, while Sterling's movement hinged on the upcoming UK general election.

2024-06-28
The Euro Drop 1.4% This Month

The Euro Drop 1.4% This Month

The dollar trimmed gains from the previous session as Treasury yields slightly eased. US new home sales fell last month due to high mortgage rates.

2024-06-27

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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
EBC Financial Group (Australia) Pty Ltd (ACN: 619 073 237) is authorised and regulated by the Australian Securities and Investments Commission (Number: 500991). EBC Financial Group (Australia) Pty Ltd is a related entity of EBC Financial Group (SVG) LLC and are managed separately. EBC Financial Group (Australia) Pty Ltd provides general financial advise services in Australia.
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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.
Regional Restrictions: EBC does not offer any services to citizens and residents of certain jurisdictions including: Afghanistan, Belarus, Burma (Myanmar), Canada, Central African Republic, Congo, Cuba, Democratic Republic of the Congo, Eritrea, Haiti, Iran, Iraq, Lebanon, Libya, Malaysia, Mali, North Korea (Democratic People's Republic of Korea), Russia, Somalia, Sudan, South Sudan, Syria, Ukraine (including Crimea, Donetsk, and Luhansk Regions), the United States, Venezuela, and Yemen. For more information, please check out our FAQs.
Compliance Disclosure：The website can be accessed globally and is not specific to any entity. Your actual rights and obligations will be determined based on the entity and jurisdiction that you choose to be regulated.There may be local laws and regulations which prohibit or limit your rights to access, download, distribute, disseminate, share or otherwise use any or all of the documents and information published on this website.
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