Economic Calendar:
Tuesday: ZEW Survey Expectations, UK Jobless Claim, US PPI for February
Wednesday: FOMC Rate Decision, Canadian YOY CPI, US Retail Sales for February
Thursday: US Initial Jobless Claim, US Housing Starts and Industrial Production for February, Bank of England Rate Decision
Friday: US Existing Home Sales for February, Japanese Tertiary Industry Index MOM
-
FX Rates
March 14, 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 1.0944 GBP/USD 1.3051 USD/CAD 1.2756 AUD/USD 0.7237 USD/JPY 117.98 USD/CNH 6.3796 USD/ILS 3.2757 USD/MXN 20.8677 USD/CHF 0.9354 USD/INR 76.5675 USD/BRL 5.0617 USD/SGD 1.3643 USD/DKK 6.7988 USD/SEK 9.6251 USD/NOK 9.0075
-
USDThe US FOMC is expected to raise interest rates this week for the first time since March of 2020. The US benchmark 10-year US Treasury bond yield rose 15% last week. The greenback is trading mixed against its peers, but with little change from the end of last week. The DXY is down 0.25% since Friday’s close.GBP
GBP/USD started the week with a small rally as rates move into the 1.3060’s. The BOE is expected to have another rate increase later this week, which will be the third-rate hike since December 15.
EUREUR/USD rates had a slight rally since the end of last week. The uptick in rates is due to continued diplomatic efforts and hopes of de-escalation in Ukrainian. German treasury yields increased 10 basis points up to 0.35%, their highest treasury rates since June 2018.CADThe loonie was slightly weaker against the USD as oil dropped to its lowest prices in the past two weeks. WTI crude futures fell as much as 6.3%, the lowest since March 1.ASIA/PACIFICAfter rallying earlier this month on news of interest rate increases, AUD/USD rates continue last week’s slide falling to 0.7250.
USD/JPY rates climbed through 118.00 for the first time since 2017. The continued risk-on sentiment is leading to FX traders selling the safe haven yen.
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/foreign-exchange-advisory
Source: Bloomberg | |
This article is intended for U.S. audiences only. ©2023 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. |