US markets are starting the month/Q4 with a slight risk-on mood. It is certainly a relief after a week of quarter-end adjusting by investment managers around the world, which led to a big sell-off in equities - the worst slide since January- a rise in UST yields and a big rally in the dollar. Today, the dollar is slightly lower from yesterday’s close, and oil and gold are steady at $74.57 per barrel and $1,755 per oz., respectively. Today’s US economic data came in as expected.
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FX Rates
October 1, 2021Rates 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 1.1599 GBP/USD 1.3561 USD/CAD 1.2674 AUD/USD 0.7264 USD/JPY 110.95 USD/CNH 6.4352 USD/ILS 3.2203 USD/MXN 20.5370 USD/CHF 0.929 USD/INR 74.1250 USD/BRL 5.3911 USD/SGD 1.3558 USD/DKK 6.4117 USD/SEK 8.7514 USD/NOK 8.6397
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USD
The dollar is slightly lower after a week of unexpected strength. It broke out of trading ranges against various currencies which had been in place for several months, including the euro and UK pound. US consumer income and spending data for August came in as expected, as did PCE Deflator, a key inflation indicator.
GBPThe UK pound is higher by nearly 0.7% amid the risk-on mood, and is the top G-10 currency performer after the Norwegian krone, up by 1.3% vs. the dollar. UK PMI Manufacturing Index for September of 57.10 was better than expected, but remains in a decline from May’s peak at 65.60.
EURThe euro is little changed overnight, hovering around the $1.16 level, and down over 1% for the week. FX traders have been seen unwinding long EUR positions in place for much of the year. CPI for the eurozone came in 0.5% MoM and 3.4% YoY, as expected.
CADUSD/CAD is steady overnight, and in line with a week of little movement in the currency pair. There was little reaction to downbeat economic news this morning, Canada’s GDP for July MoM at -0.1% and YoY at 4.7% were both weaker than June’s figures.
ASIA/PACIFICThe Japanese yen gained a little overnight, but at 111, USD/JPY sits a full yen lower than yesterday’s peak at 112.08. Consumer confidence in Japan for September was better than expectations and August’s figure.
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| Source: Bloomberg | |
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