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Daily Forex Bulletin April 12, 2023 – XMDailyFX

Daily Forex Bulletin April 12, 2023

Want to focus on this kind of market insight? HSBC China Mobile Banking APP Wealth management page “Market information” section launched a new subscription function! Subscribe to the market news you care about, get you the first updates, and never miss out on HSBC’s unique investment analysis and insights. Go to the mobile banking APP and subscribe now! Material risk notice • Investing is risky. You should be aware that the capital value of the investment and the income from it can go up or down, or even become worthless, and you may not get back the amount originally invested. • The past performance presented in this document is not a reliable indicator of future performance. Currency exchange risk – The value of foreign currency and RMB deposits is subject to the risk arising from exchange rate fluctuations. If you choose to exchange your foreign currency and RMB deposits into other currencies at a different exchange rate than the original exchange rate, you may suffer a loss of principal. Australian dollar left Support/resistance level USD 0.6580/0.6756 The Australian dollar rose against the US Federal Reserve as the market increased bets on a rate hike next month following strong US non-farm payrolls data The dollar rose yesterday. The Australian dollar rose 0.14 per cent against the US dollar yesterday. Euro write Support/resistance level USD 1.0757/1.1018 The euro rose against the dollar yesterday as risk sentiment improved slightly, the greenback weakened and US Treasury yields rose. Investor fever Wait for U.S. consumer price data later in the day for clues on the Fed’s policy stance. EURusd The dollar rose 0.45 per cent yesterday. Pound sterling write Support/resistance level USD 1.2233/1.2570 Sterling rose against the dollar for the first time in five days yesterday as rising risk sentiment helped the currency to its last 10-month rally High level. The Bank of England is not expected to hold a policy meeting until next month. The pound gained 0.35% against the dollar yesterday. New Zealand dollar left Support/resistance level USD 0.6120/0.6317 The NZD closed lower against the greenback yesterday as the market focused on business and consumer sentiment. However, Chinese inflation and geopolitics should have much bigger Impact. Looking ahead, the U.S. Consumer Price Index for March will be released today. NZD fell 0.43% against USD yesterday. Canadian dollar write Support/resistance level USD 1.3313/1.3711 The Canadian dollar closed higher against the U.S. dollar yesterday, recovering from a 10-day low, as investors awaited the Bank of Canada’s interest rate decision It was supported by rising oil prices, Canada’s main export. The dollar fell 0.32 per cent against the Canadian dollar yesterday. yen left Support/resistance level USD 130.90/135.14 As the dollar fell ahead of today’s US inflation data, while US Treasury yields strengthened, the yen gained ground It closed lower after bouncing earlier in the day. Usdjpy rose 0.04 per cent yesterday. * The current trend observations are based on technical analysis of historical trends only and do not reflect any forward-looking views. Current trend signals are generated based on the 20-day moving average and the 50-day moving average. – Consolidation, which means that the currency moves sideways against the US dollar write The rise indicates that the currency is higher against the dollar left The decline indicates a weakening of the currency against the dollar Due date: April 18, 2023 statement This document is not and should not be construed as an offer, invitation to offer or recommendation to enter into any investment or purchase, or subscribe for or participate in any services. The information in this document is not based on your personal information Condition review. You should carefully consider the suitability of any investment views and investment products in light of your investment experience, investment objectives, financial sources and relevant circumstances, and make your own investment decisions. Although this document has been prepared with care, we make no warranties, representations or warranties as to the accuracy, timeliness or completeness of this document. For your use or reliance on this article The Bank shall not be liable for any loss, damage or any other consequences which may be incurred or suffered in connection with this event. The contents of this document are subject to change without notice. Part of this document The information is sourced from third parties, in which case the source will be disclosed where appropriate. The Bank believes in the reliability of such information but has not independently verified it. You should not reproduce or further distribute the contents of this report, in whole or in part, to any person or entity for any purpose. Published by HSBC Bank (China) Limited HSBC’s wechat account “HSBC China” is available for use in mainland China. The products and information provided in this public account are for customers in mainland China to access. This account is provided by the HSBC Bank (China) Limited (” HSBC China “). HSBC (China) Limited is supervised and managed by the China Banking and Insurance Regulatory Commission, the People’s Bank of China, the State Administration of Foreign Exchange and other regulatory bodies. If you are in other countries or regions outside Mainland China, the Bank cannot guarantee that it can provide you with the related products and services under this public account in accordance with the relevant laws and regulations of the country or region where you live. The information provided on this public account is not intended to be transferred to or used by anyone in any country or region where the dissemination or use of such information is restricted or prohibited by relevant laws and regulations, nor is it intended to be used by people in such country or region. 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