Summary:
The dollar trimmed gains from the previous session as Treasury yields slightly eased. US new home sales fell last month due to high mortgage rates.
EBC Forex Snapshot, 27 Jun 2024
The dollar pared some of its gains from the previous session as Treasury yields eased a touch. New home sales in the US dropped last month as mortgage rates remained elevated.
The euro was on track to lose roughly 1.4% for the month, weighed down by political turmoil in the euro zone in the lead up to France's snap election set to begin this weekend.
European leaders' summits could be faced with a critically weakened French president who has been one of the very few among them to consistently push for a stronger, more united and more "sovereign" EU.
| Citi (as of 24 Jun) | HSBC (as of 27 Jun) | |||
| support | resistance | support | resistance | |
| EUR/USD | 1.0668 | 1.0916 | 1.0595 | 1.0832 |
| GBP/USD | 1.2619 | 1.2860 | 1.2535 | 1.2783 |
| USD/CHF | 0.8827 | 0.9158 | 0.8866 | 0.9035 |
| AUD/USD | 0.6564 | 0.6729 | 0.6579 | 0.6709 |
| USD/CAD | 1.3577 | 1.3846 | 1.3620 | 1.3785 |
| USD/JPY | 153.60 | 160.00 | 156.97 | 162.73 |
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.
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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