The dollar fell broadly on Friday

2024-02-02
Summary:

Friday's tech earnings on Wall Street lifted risk appetite, causing the dollar's broad decline and marking its first weekly loss this year.

EBC Forex Snapshot


2 Feb 2024


The dollar fell broadly on Friday as upbeat big tech earnings on Wall Street boosted investors' appetite for risk assets. The currency was on track for its first weekly loss of the year.


Sterling was muted after the BOE kept interest rates on hold but opened up the possibility of cuts. The vote, which split the MPC 6-3, pointed to a difference in opinion among board members.

USDJPY

UK headline inflation unexpectedly nudged upward to an annual 4% in December on the back of a rise in alcohol and tobacco prices, while core CPI figure was unchanged at 5.1%.

Citibank vs. HSBC Currency Pair Data Comparison

Citi (as of 22 Jan) HSBC (as of 1 Feb)

support resistance support resistance
EUR/USD 1.0848 1.1139 1.0744 1.0937
GBP/USD 1.2536 1.2848 1.2590 1.2782
USD/CHF 0.8333 0.8667 0.8489 0.8731
AUD/USD 0.6526 0.6900 0.6483 0.6688
USD/CAD 1.3177 1.3619 1.3336 1.3536
USD/JPY 140.59 148.80 144.55 149.01

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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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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