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FX Update

Broad USD strength amidst risk-off sentiment


Data released out of China showed weaker-than-expected results causing increased demand for safe haven assets. The greenback is stronger against its peers following this news. The markets remain focused on the potential outcome of trade talks between the US and China.

"I am who I am today because of the choices I made yesterday.”
Eleanor Roosevelt, First Lady of the U.S.
  • FX Rates
    November 14, 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 trades to fresh highs as the market moves to risk-off sentiment following a disappointing data release from China. The focus will remain on the outcome of US-China trade talks along with Retail Sales data release from the US tomorrow.
    Sterling option volatility has surged the most since the Brexit vote. Traders are speculating as much as 3% of GBP/USD swings on the vote that is set for December 12. The option volatility is implying that the currency could rally to 1.32 or fall to 1.25.
    EUR/USD is currently trading below the 1.10 handle at a one-month low. US Retail sales will be released Friday which could dictate further direction for the currency pair.
    USD/CAD trades near five-week highs at 1.3268, in-line with broad US dollar strength. The USD/CAD high extended gains from last Friday’s release of Canadian employment data which was weaker than expected.

    The Japanese yen is stronger this morning along with other safe haven currencies. Market moved to risk-off sentiment following weaker-than-expected data released from China and as the outcome between US and China trade talks remain uncertain. The Australian dollar fell almost 1% to a four-week low in reaction to the data from China along with Australia’s employment data which unexpectedly contracted.

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About the Author

Cate Camerota is currently an FX Advisor at Silicon Valley Bank focusing on early stage and growth Technology names in New England and Eastern Canada. Prior to SVB, Cate worked in FX Sales/Trading at Wells Fargo and Citizens Bank where she supported a portfolio of Middle Market and Mid-Corp clients throughout the Northeast. Cate helped clients identify FX risk and implement strategic hedging programs.

Outside of work, Cate is involved with the Boys & Girls Club of Boston Friends Council, Ladies FORE Finance (women's golf league) and My Life My Choice.

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