The dollar stood strong - EBC Daily Snapshot

2023-10-19

Summary:

On Thursday, the dollar stayed strong amid market swings, with rising Treasury yields expected due to a hawkish tone from Fed Chair Powell later.

EBC Forex Snapshot

19 Oct 2023

The dollar held firm on Thursday amid market volatility. Treasury yields continued to rise as the Fed Chair Powell was expected to deliver a hawkish vibe a later today.

The Australian dollar slid after domestic jobs data surprised to the downside. Australia employment rose 6,700 in September, undershooting market forecast for an increase of around 20,000.

USDJPY

The yen hovered around the two-week low close to the psychological 150 mark. The BOJ announced a $2 billion bond buying to tame yields which rose to a fresh decade high on Wednesday.

Citibank vs. HSBC Currency Pair Data Comparison
	Citi (as of 9 Oct)		HSBC (as of 19 Oct)
	support	resistance	support	resistance
EUR/USD	1.0443	1.0834	1.0442	1.0634
GBP/USD	1.2011	1.2308	1.2004	1.2306
USD/CHF	0.8745	0.9338	0.8880	0.9171
AUD/USD	0.6272	0.6522	0.6246	0.6464
USD/CAD	1.3417	1.3805	1.3492	1.3862
USD/JPY	146.00	150.16	148.14	150.93

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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