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.
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.
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.
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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