BC Forex Snapshot, 3 Oct 2024
The dollar saw some additional support on Thursday as the Fed is not expected to rush to cut interest rates. The euro languished not far from a three-week trough reached in the previous session. Private payrolls increased by a larger-than-expected 143,000 jobs last month, the ADP showed, raising expectations for a strong reading for potentially crucial monthly non-farm payrolls figures on Friday.
Eurozone inflation dropped to 1.8% last month, dipping below the ECB's target for the first time in three years. Normally hawkish ECB policymaker Isabel Schnabel took a dovish tone on price pressures.
| Citibank vs. HSBC Currency Pair Data Comparison | ||||
| Citi (As of 30 Sep) | HSBC (As of 30 Sep) | |||
| Support | Resistance | Support | Resistance | |
| EUR/USD | 1.1002 | 1.1214 | 1.1038 | 1.1250 |
| GBP/USD | 1.3002 | 1.3482 | 1.3103 | 1.3538 |
| USD/CHF | 0.8375 | 0.8749 | 0.8346 | 0.8506 |
| AUD/CAD | 0.6757 | 0.6950 | 0.6702 | 0.7019 |
| USD/CAD | 1.3420 | 1.3792 | 1.3404 | 1.3633 |
| USD/JPY | 139.50 | 147.13 | 139.00 | 145.93 |
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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