The dollar rose on Friday and is set for a third monthly gain as the economy growth accelerated and the ECB left interest rates unchanged.
EBC Forex Snapshot
27 Oct 2023
The dollar rose on Friday and is set for a third monthly gain as the economy growth accelerated and the ECB left interest rates unchanged.
GDP rose at a seasonally adjusted 4.9% annualised pace in the third quarter, the fastest since the fourth quarter of 2021. Economists surveyed by Dow Jones had been looking for an increase of 4.7%.
The yen continued to languish around 150 per dollar, a level some as a potential trigger for intervention by Japanese authorities. Analyst said he BOJ could change its YCC next week.
Citi (as of 16 Oct) | HSBC (as of 26 Oct) | |||
support | resistance | support | resistance | |
EUR/USD | 1.0443 | 1.0834 | 1.0465 | 1.0677 |
GBP/USD | 1.2011 | 1.2387 | 1.2017 | 1.2268 |
USD/CHF | 0.8745 | 0.9338 | 0.8844 | 0.9133 |
AUD/USD | 0.6286 | 0.6522 | 0.6239 | 0.6421 |
USD/CAD | 1.3381 | 1.3785 | 1.3637 | 1.3884 |
USD/JPY | 146 | 150.16 | 148.8 | 150.96 |
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