Summary:
Wednesday: The dollar eased from a 2-week high, supported by factors like Treasury yields and cautious market sentiment, impacting Wall Street.
EBC Forex Snapshot
3 Jan 2024
The dollar eased slightly on Wednesday from a two-week high, underpinned by a confluence of factors including elevated Treasury yields and a cautious turn in risk sentiment that weighed on Wall Street.
The euro and sterling were nursing deep losses, after the currencies had on Tuesday clocked their worst daily performance in months due to signs of weak growth.
Britain's manufacturing sector suffered a setback in its attempts to return to growth as output and employment hit a steeper slump in December, while euro zone factory activity contracted in December for an 18th straight month.
| Citi (as of 18 Dec) | HSBC (as of 2 Jan) | |||
| support | resistance | support | resistance | |
| EUR/USD | 1.0724 | 1.1017 | 1.0830 | 1.1198 |
| GBP/USD | 1.2326 | 1.2848 | 1.2538 | 1.2868 |
| USD/CHF | 0.8667 | 0.8957 | 0.8235 | 0.8684 |
| AUD/USD | 0.6526 | 0.6750 | 0.6610 | 0.6942 |
| USD/CAD | 1.3381 | 1.3695 | 1.3071 | 1.3505 |
| USD/JPY | 139.48 | 147.50 | 138.74 | 144.49 |
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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