May 3, 2022
EUR/USD 1.0561 GBP/USD 1.2550 USD/CAD 1.2856 AUD/USD 0.7109 USD/JPY 129.79 USD/CNH 6.6661 USD/ILS 3.3662 USD/MXN 20.3700 USD/CHF 0.9738 USD/INR 76.6588 USD/BRL 5.0351 USD/SGD 1.3829 USD/DKK 7.0446 USD/SEK 9.8430 USD/NOK 9.4045
USDThe dollar is lower versus most G-10 peers easing in lighter trading ahead of tomorrow’s Fed policy announcement. The Fed begins its two-day meeting today and markets expect a 50bp rate increase to be announced tomorrow.GBP
Sterling climbed 0.2% to the dollar on higher gilt yields ahead of the Bank of England meeting Thursday.EUR
Euro rose slightly after bouncing off low level support of 1.05 ahead of US Fed decision this week. ECB VP Luis de Guindos said over the weekend that the ECB governing council has not discussed a path for rates yet. ECB President Christine Lagarde is expected to speak later today.CAD
The Canadian dollar strengthened 0.2% versus the dollar for the first session in three. WTI futures were down nearly one percent in early trading.ASIA/PACIFIC
Aussie gained significantly after the central bank raises rates and signaled they will continue to raise rates to help control inflation.
USD/JPY dropped slightly and just barely holds on to the 130 handle. Golden Week holidays continue, and nearby support is 129.32.
For more analysis on FX markets or information regarding SVB's FX services:
See all of SVB's latest FX information and commentary at www.svb.com/trends-insights/foreign-exchange-advisory
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 Notice. If you have privacy questions, you may contact us at PrivacyOffice@svb.com. You can withdraw your consent at any time.
Thank you for subscribing to SVB's Daily FX Update.
You're almost done. Please check your email box and follow the instructions to confirm your subscription. If you did not receive an email please check your Spam or Bulk E-Mail folder just in case the confirmation email got delivered there instead of your inbox. If so, select the confirmation message and mark it Not Spam, which should allow future messages to get through. Please add us to your trusted list of senders, contacts or address book.
Please note that we will continue to send you communications that we need to send you (for example, to keep you updated on operational changes to your account, a product or a service) or that we are required to send you by law.
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.