EBC Forex Snapshot, 27 Sep 2024
The dollar wobbled on Friday and looked set for a third straight month of declines as investors weighed the Fed’s policy, while China's spree of stimulus measures kept risk-sensitive currencies aloft. The yen saw wild swings as Japan’s leadership contest heat up. Markets braced for the victory of hardline nationalist Sanae Takaichi, a vocal opponent of further tightening in Japan.
Data showed core inflation in Japan's capital matched the 2% target this month, a sign the economy is making progress in meeting the criteria for further rate hikes.
| Citibank vs. HSBC Currency Pairs Data Comparison | ||||
| Support | Resistance | Support | Resistance | |
| EUR/USD | 1.0857 | 1.1202 | 1.1047 | 1.1259 |
| GBP/USD | 1.2812 | 1.3353 | 1.3131 | 1.3566 |
| USD/CHF | 0.8375 | 0.8749 | 0.8384 | 0.8544 |
| AUD/USD | 0.6622 | 0.6871 | 0.6706 | 0.6995 |
| USD/CAD | 1.3441 | 1.3792 | 1.3372 | 1.3601 |
| USD/JPY | 139.50 | 147.13 | 141.14 | 146.89 |
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.
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