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.
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.
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.
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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