FX Update

The greenback sustains gains after breaking out from long-standing trading ranges


The dollar is higher again today, its trade-weighted index reaching four month highs. US durable goods orders beat expectations and the Kansas Fed Manufacturing Index is out today. The euro and pound are still sliding against the dollar, driven by weak data and uncertainty in the region.
“That's a tough one. I'd have to say April 25th, because it's not too hot, not too cold. All you need is a light jacket!"
Miss. Congeniality
  • FX Rates
    April 25, 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 dollar gained for a third straight day reaching a four month high after dovish signals from central banks in Japan, Canada and Europe. Investors flocked to the greenback as other markets become less attractive. Weekly jobless claims came in at 230K vs 200K expected. Durable goods orders beat expectations coming in at 2.7% vs 0.8% expected. The Kansas Fed manufacturing index is due out this morning.
    The downward trend for the pound continues with trading below $1.30 for a third straight day. Traders expect the downward trend to continue until there is clarity around Brexit. Conservative lawmakers have asked PM May to provide a timeline for her resignation.

    The euro continues to drop against the dollar, nearing the $1.11 level – the lowest in 22 months. No major data releases are expected out of the Eurozone today.


    The loonie is faring better than most other G-10 peers against the greenback supported by higher oil prices.


    Chinese stocks fell 2% late in the session following the central bank’s attempt to manage expectations for further easing. The USDCNY jumped to its highest level in two months.

    The Japanese yen gained against the dollar as traders reduced risk positions in anticipation of the Golden Week holidays, when Japanese markets shut for 10 days.

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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

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About the Author

Kathryn Garvey is a foreign exchange Associate for Silicon Valley Bank’s global financial services group and has been with SVB since July of 2018. Prior to SVB Kathryn completed co-op internships at Innosight, Market Metrics, and The TJX Companies.

Garvey graduated from Northeastern University in 2018 with a bachelor’s degree in finance, and marketing with elective coursework in entrepreneurship and innovation from Northeastern University.

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