.png){kind=logo}
Good Friday and Easter Monday will see the European markets closed. Equity markets in the US are closed today and the bond market shuts early. Yesterday’s risk-off sentiment in the FX markets subsided as the day progressed. Thursday’s late morning University of Michigan Consumer Sentiment index came in better than expected as did this morning's Empire State Manufacturing survey.
" 'Twas Easter-Sunday. The full-blossomed trees filled all the air with fragrance and with joy."
-
FX Rates
April 15, 2022Rates 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.
EUR/USD 1.0809 GBP/USD 1.3066 USD/CAD 1.2613 AUD/USD 0.74 USD/JPY 126.51 USD/CNH 6.3715 USD/ILS 3.2135 USD/MXN 19.9715 USD/CHF 0.9426 USD/INR 76.1837 USD/BRL 4.7014 USD/SGD 1.3569 USD/DKK 6.8807 USD/SEK 9.5497 USD/NOK 8.7931
-
USD
The dollar is flat this morning in very light trading. Overall, the US dollar gained 0.70% on the week mostly on safe-haven buying supported by solid economic data and expectations of larger rate increases by the Fed.
GBPThe British pound remained above 1.30 which is proving to be a key support level. London is closed for Good Friday and will be closed Monday for Easter.
EURThe euro is flat overnight and in morning trading despite European Central Bank members indicating a 50bps rate increase by fall. After initially gaining yesterday, the euro sank to its lowest levels since March 2020 – briefly trading below 1.08. European markets are closed today and Monday.
CADThe Canadian dollar is flat despite the price of oil increasing. Russia announced a reduction in their export duty on oil. With many buyers either facing a ban on Russian oil or shunning purchases, the change in tax is unlikely to impact the price of Brent or WTI.
ASIA/PACIFICChina lowered its reserve ratio for banks by 25bps in an effort to support the overall economy. However, the PBOC left their primary rate unchanged disappointing some investors. The renminbi strengthened somewhat, but remains in a tight trading range.
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
Subscribe to receive the Daily FX Update in your inbox.
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.
| Source: Bloomberg | |
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. |
