The dollar remained stable, below recent highs, with currency markets quiet as traders awaited further remarks from Fed officials later in the day.
EBC Forex Snapshot
10 Oct 2023
The dollar was steady on Tuesday and below recent highs. Currency markets were relatively muted as traders waited for more Fed officials to speak later in the day.
Dovish comments from two Fed officials helped and the conflict in the Middle East push Treasury yields on Monday. Israel says it has secured its border with Gaza.
Citi (as of 3 Oct) | HSBC (as of 10 Oct) | |||
support | resistance | support | resistance | |
EUR/USD | 1.0477 | 1.0834 | 1.0388 | 1.0677 |
GBP/USD | 1.2011 | 1.2308 | 1.1967 | 1.2356 |
USD/CHF | 0.8745 | 0.9338 | 0.8985 | 0.9299 |
AUD/USD | 0.6300 | 0.6522 | 0.6234 | 0.6462 |
USD/CAD | 1.3302 | 1.3695 | 1.3488 | 1.3889 |
USD/JPY | 144.54 | 150.15 | 147.57 | 150.42 |
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