April 5, 2022
EUR/USD 1.0970 GBP/USD 1.3166 USD/CAD 1.2408 AUD/USD 0.7651 USD/JPY 122.84 USD/CNH 6.3676 USD/ILS 3.2020 USD/MXN 19.7939 USD/CHF 0.9244 USD/INR 75.3337 USD/BRL 4.6254 USD/SGD 1.3553 USD/DKK 6.7783 USD/SEK 9.3525 USD/NOK 8.6691
USDThe USD is slightly down on the day against its G10 peers except for the euro and the Danish krone. The Bloomberg Dollar index is down 0.10% on the day. The US trade deficit for February narrowed from $89.23b to $89.19b, falling 0.05%. Imports rose by 1.3% for February, while exports rose by 1.8%.GBPGBP/USD climbed slightly on the day with rates up 0.15%. The yield on British bonds roses 8 bps today, the most since March 2021.EUR
Rising tension between Russia and the West has strained EUR/USD rates. The pair is trading near weekly lows, down an additional 0.10% on the day. European equities are down across the board as the risk-off sentiment returns.CADThe loonie advanced against a weaker dollar on the back of rising crude oil prices. WTI Crude is up 1.10% on the day buoying the loonie. BOC outlook survey from yesterday outlines support for tighter policy in the coming month.ASIA/PACIFIC
AUD/USD rates jumped up 1.11% today as oil prices are higher and the RBA indicates it is time to raise rates. AUD/USD rates are at the highest levels since June of 2021.
NZD/USD rates also climbed about 1.00% today, with rates crossing the $0.70 mark for the first time since November 2021. The rise in the kiwi, was underpinned by the uncertainty in the Western European marketplace coupled with being a resource-linked currency.
This article is intended for U.S. audiences only.
©2022 SVB Financial Group. All rights reserved. Silicon Valley Bank is a member of the FDIC and the Federal Reserve System. Silicon Valley Bank is the California bank subsidiary of SVB Financial Group (Nasdaq: SIVB). SVB, SVB FINANCIAL GROUP, SILICON VALLEY BANK, MAKE NEXT HAPPEN NOW and the chevron device are trademarks of SVB Financial Group, used under license.
The views expressed in this email are solely those of the author and do not reflect the views of SVB Financial Group, or Silicon Valley Bank, or any of its affiliates. This material, including without limitation the statistical information herein, is provided for informational purposes only. The material is based in part upon information from third-party sources that we believe to be reliable, but which has not been independently verified by us and, as such, we do not represent that the information is accurate or complete. The information should not be viewed as tax, investment, legal or other advice nor is it to be relied on in making an investment or other decisions. You should obtain relevant and specific professional advice before making any investment decision. Nothing relating to the material should be construed as a solicitation or offer, or recommendation, to acquire or dispose of any investment or to engage in any other transaction.
Foreign exchange transactions can be highly risky, and losses may occur in short periods of time if there is an adverse movement of exchange rates. Exchange rates can be highly volatile and are impacted by numerous economic, political and social factors, as well as supply and demand and governmental intervention, control and adjustments. Investments in financial instruments carry significant risk, including the possible loss of the principal amount invested. Before entering any foreign exchange transaction, you should obtain advice from your own tax, financial, legal, accounting and other advisors, and only make investment decisions on the basis of your own objectives, experience and resources.