Daily
FX Update

Dollar lower on mixed risk-appetite

The Bloomberg Dollar Index remains down from Friday’s lower close as markets digest optimistic Brexit headlines, easing US-China trade talks, and a cautious Fed outlook.

Economic Data:

Tuesday: US Industrial Production

Wednesday: US Beige Book, Canada CPI

Thursday: German PPI, US Retail

Friday: US Housing, UK Retail

  • FX Rates
    April 15, 2019

    Rates are not real time. Rates are today's indicative mid-market rates as of time of publishing, which may vary. Please contact SVB for a current quote.


  • USD

    The greenback is lower ahead of important economic data and earnings slated for this week. March retail sales scheduled for Thursday will be critical in guiding Q2 macro forecasts, with reports expected to show a rebound. The Fed’s Beige Book released this Wednesday could move markets as most districts reported slower activity in March.

    GBP
    Pound sterling advances as large speculators and hedge funds trim short positions. The extension of the Brexit process to October has calmed immediate concerns of a no-deal EU exit. The UK Government and Labour party both said on Sunday that their talks represented the best chance of finding a Brexit solution. MP David Lidington said there was common ground between the two sides.
    EUR

    The euro records early gains after Bundesbank reported a moderate pick up in Q1 growth. Eurozone PMI data dropping later in the week is expected to push the common currency higher. Easing Brexit concerns have helped the euro recover from February lows.

    CAD

    The loonie strengthens as this morning’s BoC Business Outlook Survey is expected to show modest economic growth. The abbreviated week also hosts March CPI data which is anticipated to pop almost 1% m/m. WTI trades lower despite oil prices surging 40% this year, making the Canadian dollar the second best performing G10 currency YTD.

    ASIA/PACIFIC

    Chinese renminbi gains as officials consider a US request to shift tariffs of agricultural goods to other products in an effort to settle a trade deal. Markets will watch for China Q1 GDP and industrial output data to be released mid-week.  

Contact Us

For more analysis on FX markets or information regarding SVB's FX services:

Contact your respective SVB FX Advisor or the SVB FX Advisory Team at fxadvisors@svb.com.
See all of SVB's latest FX information and commentary at www.svb.com/foreign-exchange

Subscribe to receive the Daily FX Update in your inbox.

By providing your email address and clicking on the Subscribe button below, you consent to receive emails from Silicon Valley Bank for your chosen categories. You also consent to the terms of our Privacy Policy. If you have privacy questions, you may contact us at privacy@svb.com. You can withdraw your consent at any time.

Now Let's Get Started

See how SVB makes next happen now for entrepreneurs like you.

Connect with Us