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Daily
FX Update

Markets relatively quiet ahead of G-20 trade talks

The Bloomberg Dollar Index is little changed against its G10 peers as markets await Saturday’s US-China trade discussions. Light eurozone confidence data keeps the common currency away from Tuesday’s 3-month peak. Optimism around soft-Brexit rhetoric from UK Parliament stirred early sterling demand.
"It does not matter how slowly you go, so long as you do not stop." 
Confucius
  • FX Rates
    June 27, 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 gains ahead of President Trump’s meeting with China’s Xi Jinping at the G20 conference in Osaka on June 29. Investors will pay close attention to any developments as trade tensions continue to drive markets.

    GBP

    Sterling is little changed after Boris Johnson softened his Brexit rhetoric, saying the chances of the UK leaving without a deal are “a million to one”. The former foreign secretary added that holding a general election before the October 31 exit date would be “absolutely crazy”.

    EUR
    The euro is slightly weaker following disappointing eurozone confidence data. June inflation numbers released tomorrow for the bloc is expected to be light and could cause the common currency to drift away from its three-month highs seen Tuesday.
    CAD

    The loonie is stronger this morning after touching four-month highs yesterday. US-Iran trade tensions remain relevant by keeping oil prices propped. Markets will look for Canada’s GDP print released tomorrow.

    ASIA/PACIFIC

    The Chinese yuan and stocks edged slightly higher today ahead of the G20 Summit meeting where Xi Jinping and Donald Trump will further discuss US-China trade issues. The yen nears a one-week low waiting on the pivotal US-China trade talks.

    After reaching a two-week high, the Australian dollar continued its rise an additional 0.1%.

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

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