On Thursday, the dollar surged to a two-week high due to strong economic data and weak Treasury auctions, signaling market ripples.
EBC Forex Snapshot, 30 May 2024
The dollar scaled a two-week peak on Thursday as a spate of stronger-than-expected economic data and a run of poorly received auctions rippled through the Treasury market.
Market interventions proves to be limited in its in its ability to reverse the yen's slide so Japanese policymakers are turning their attention to more structural economic factors for a fundamental solution.
They discussed measures to strengthen Japan's global competitiveness and divert profits earned overseas to boost domestic growth during four meetings since March, according to minutes.
Citi (as of 27 May) | HSBC (as of 30 May) | |||
support | resistance | support | resistance | |
EUR/USD | 1.0793 | 1.0895 | 1.0741 | 1.0877 |
GBP/USD | 1.2300 | 1.2803 | 1.2537 | 1.2838 |
USD/CHF | 0.8988 | 0.9244 | 0.9026 | 0.9199 |
AUD/USD | 0.6563 | 0.6729 | 0.6555 | 0.6691 |
USD/CAD | 1.3478 | 1.3846 | 1.3620 | 1.3776 |
USD/JPY | 152.12 | 157.68 | 154.86 | 159.05 |
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.
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On Friday, the US dollar fell to a one-week low as mixed job market signals emerged before key payroll data likely to influence Fed policy.
2024-09-06The dollar fell Thursday on US economic worries, with the yen rising on safe-haven demand. Traders see a 44% chance of a 50-bp cut this month.
2024-09-05Safe-haven currencies surged Wednesday as Wall Street and Asian stocks fell sharply, leading to losses in commodity currencies.
2024-09-04