The dollar steadied on Monday though the yen managed to stay on the stronger side of 150 per dollar, as traders looked ahead to several events this week.
EBC Forex Snapshot
30 Oct 2023
The dollar steadied on Monday though the yen managed to stay on the stronger side of 150 per dollar, as traders looked ahead to several events this week.
Expectations are rising that BOJ will change its YCC this week as the yen tests a 33-year low and government bond yields touch the highest levels in a decade.
The Fed and BOE are both expected to keep rates steady so barring any surprises, the focus will be more around the message the policymakers communicate.
The core PCE price index increased 0.3% in September, in line with the Dow Jones estimate and above the 0.1% level for August.
Citi (as of 24 Oct) | HSBC (as of 30 Oct) | |||
support | resistance | support | resistance | |
EUR/USD | 1.0448 | 1.0737 | 1.0474 | 1.0673 |
GBP/USD | 1.2011 | 1.2387 | 1.2014 | 1.2283 |
USD/CHF | 0.8745 | 0.9338 | 0.8908 | 0.9110 |
AUD/USD | 0.6286 | 0.6604 | 0.6253 | 0.6430 |
USD/CAD | 1.3381 | 1.3786 | 1.3664 | 1.3977 |
USD/JPY | 146.00 | 150.16 | 148.24 | 150.86 |
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