The Euro Hovers Near Lows on Monday

2024-06-17

Summary:

The dollar stayed firm Monday as investors awaited US economic signals. The euro hovered near a one-month low amid Europe's political turmoil.

EBC Forex Snapshot, 17 Jun 2024

The dollar was firm on Monday as investors awaited fresh clues on the strength of the US economy. The euro hovered near a more than one-month low amid political turmoil in Europe.

Even after the French financial markets endured a brutal sell-off late last week, European Central Bank policymakers have no plans to discuss emergency purchases of French bonds, five sources told Reuters.

EURUSD

The international trade surplus in goods in the Eurozone was estimated at €15 billion in April, standing higher than the figure seen during the corresponding month last year, Eurostat said last week.

Citibank vs. HSBC Currency Pair Data Comparison
	Citi (as of 11 Jun)		HSBC (as of 17 Jun)
	support	resistance	support	resistance
EUR/USD	1.0700	1.0981	1.0606	1.0855
GBP/USD	1.2300	1.2827	1.2604	1.2810
USD/CHF	0.8885	0.9158	0.8806	0.9070
AUD/USD	0.6562	0.6729	0.6557	0.6687
USD/CAD	1.3577	1.3846	1.3626	1.3817
USD/JPY	151.86	157.71	155.18	158.90

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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