The dollar drifted lower on Thursday

2024-01-11
Summary:

On Thursday, the dollar slipped, anticipating a cooling inflation report. Sterling rose on positive market sentiment, extending its gains.

EBC Forex Snapshot


11 Jan 2024


The dollar drifted lower on Thursday as traders expected the upcoming inflation report to show more signs of cooling. Sterling extended its upside on improved market sentiment.


Investec, a bank, said on Wednesday it now expected three 25 bp interest rate cuts by the BOE in 2024 rather than its previous call of two and inflation was likely to fall to around 1.5% in Q3.

GBPUSD

Andrew Bailey refused to address the outlook for monetary policy to MPs, but he said there was clearly the “potential for further global shocks” when asked about the top threat facing the UK economy this year.

Citibank vs. HSBC Currency Pair Data Comparison

Citi (as of 2 Jan) HSBC (as of 10 Jan)

support resistance support resistance
EUR/USD 1.0833 1.1150 1.0824 1.1088
GBP/USD 1.2527 1.2848 1.2599 1.2819
USD/CHF 0.8333 0.8667 0.8358 0.8659
AUD/USD 0.6691 0.6900 0.6590 0.6822
USD/CAD 1.3114 1.3387 1.3237 1.3477
USD/JPY 139.48 144.94 141.15 146.89

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 yen was trading around 156 on Monday

The yen was trading around 156 on Monday

Investors await clues on US interest rates as the dollar holds steady. Fed officials are cautious despite weak inflation signals.

2024-05-20
Dollar's biggest 2.5-month fall vs. euro Friday

Dollar's biggest 2.5-month fall vs. euro Friday

The dollar weakened versus the euro this week on signs of lower inflation and a softer US economy, raising Fed rate-cut expectations.

2024-05-17
US Dollar Slips to Multi-Month Lows on Thursday

US Dollar Slips to Multi-Month Lows on Thursday

US core inflation hits a 3-year low, causing the dollar to plummet; the Australian dollar also falls from a 4-month peak due to a weak jobs report.

2024-05-16

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EBC Financial Group is owned and operated by EBC Group.
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.
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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: Level 17, Dashwood House, 69 Old Broad Street, London, England, EC2M 1QS,United Kingdom.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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