The dollar remained unchanged on Monday

2024-03-18
Summary:

Monday saw a stable dollar as traders awaited central bank meetings globally. The BOJ appears close to discontinuing negative rates.

EBC Forex Snapshot, 18 Mar 2024


The dollar was steady on Monday as traders looked ahead to a week dominated by central bank meetings worldwide, with the BOJ seemingly on the brink of ending negative rates.


Internal preparations for an exit have been in the works since Kazuo Ueda took office as BOJ governor in April last year, and were mostly done by year-end, sources familiar told Reuters.

USDJPY

There is still a possibility that the central bank may opt to act until the April meeting. The Asian currency has had a whirlwind past few weeks, weakening to 150.88 last month.

Citibank vs. HSBC Currency Pair Data Comparison

Citi (as of 11 Mar) HSBC (as of 18 Mar)

support resistance support resistance
EUR/USD 1.0695 1.1017 1.0794 1.098
GBP/USD 1.2503 1.2896 1.2593 1.2889
USD/CHF 0.8551 0.9000 0.8745 0.8909
AUD/USD 0.6443 0.6691 0.6468 0.6659
USD/CAD 1.3359 1.3607 1.3437 1.3625
USD/JPY 146.68 150.89 146.71 151.08

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 Dollar Gained Further in Asian Trading Monday

The Dollar Gained Further in Asian Trading Monday

The dollar held gains and rose slightly in Asia Monday as Japan's holiday cut liquidity, focusing attention on China's disappointing stimulus.

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Euro Stabilizes After Rebounding from 2-Month Low

The US dollar dipped from a two-month high but is set for a second consecutive weekly gain as weak labor market signals support faster Fed rate cuts.

2024-10-11
Australian Dollar Rebounds from Mid-September Lows

Australian Dollar Rebounds from Mid-September Lows

The US hovered near a two-month high on Thursday as markets grew confident in the Fed's patient monetary policy ahead of a key inflation report.

2024-10-10
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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.
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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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