Summary:
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.
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 held gains and rose slightly in Asia Monday as Japan's holiday cut liquidity, focusing attention on China's disappointing stimulus.
2024-10-14
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
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
