Fed day today! FOMC meeting concludes today and markets are expecting a 0.75bp rate increase as the central bank works to control inflation. The ECB also met in an ad hoc capacity today to discuss the current market environment. BoE meets tomorrow and markets await their rate decision.
There are some things you learn best in calm, and some in storm.
June 15, 2022
EUR/USD 1.0414 GBP/USD 1.2069 USD/CAD 1.2955 AUD/USD 0.6927 USD/JPY 134.72 USD/CNH 6.7148 USD/ILS 3.4523 USD/MXN 20.6698 USD/CHF 1.0011 USD/INR 78.07 USD/BRL 5.1313 USD/SGD 1.3924 USD/DKK 7.1422 USD/SEK 10.2073 USD/NOK 9.9928
Dollar eases for the first session in five along with Treasury yields ahead of the FOMC rate decision announcement today. Other data out today includes US mortgage applications and retail sales.GBPPound climbed ahead of the BoE meeting tomorrow amid short covering and dip buying after falling to the lowest levels since Feb 2020 yesterday.EUR
Euro rose 0.6% while the ECB held an emergency meeting to discuss current market conditions and opened the door for flexible PEPP reinvestments.CAD
Canadian dollar lost ground to the dollar pulled lower by falling crude oil prices as a worsening global outlook weighs on oil demand.ASIA/PACIFIC
Aussie dollar leads gainers versus USD rising 1% over yesterday’s one month low.
USD/JPY dropped 0.7% as the BoJ continues to try to control the yield curve.
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
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