USD traded near 2-week low - EBC Daily Snapshot

2023-10-11

Summary:

The US dollar traded sideway largely near its two-week low on Wednesday as investors await the FOMC meeting minutes for more clues on interest rate path.

EBC Forex Snapshot

11 Oct 2023

The US dollar traded sideway largely near its two-week low on Wednesday as investors await the FOMC meeting minutes for more clues on interest rate path.

Atlanta Fed Bank President Raphael Bostic said the central bank did not need to raise borrowing costs any further. His view was then echoed by Minneapolis Fed President Neel Kashkari.

AUDUSD

China is preparing to bring a new round of stimulus to meet Beijing's annual growth target, Bloomberg News reported on Tuesday. The two Antipodean currencies were buoyed before paring their gains later.

Citibank vs. HSBC Currency Pair Data Comparison
	Citi (as of 3 Oct)		HSBC (as of 11 Oct)
	support	resistance	support	resistance
EUR/USD	1.0477	1.0834	1.0476	1.0700
GBP/USD	1.2011	1.2308	1.2112	1.2380
USD/CHF	0.8745	0.9338	0.8969	0.9181
AUD/USD	0.6300	0.6522	0.6309	0.6527
USD/CAD	1.3302	1.3695	1.3404	1.3774
USD/JPY	144.54	150.15	147.33	150.12

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.

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