The US dollar is trading broadly stronger against peers as market sentiment is risk-off. Traders are anticipating the upcoming central bank meetings for the US, England, and the Eurozone later this week. The global spread of the Omicron virus is also pushing investors towards safe haven assets.
Weekly economic data
Wednesday: FOMC Rate Decision, UK CPI, US Retail Sales
Thursday: Bank of England Bank Rate, US initial Jobless Claims, ECB Main Refinancing Rate
-
FX Rates
December 13, 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 1.1289 GBP/USD 1.3266 USD/CAD 1.2776 AUD/USD 0.7137 USD/JPY 113.57 USD/CNH 6.3729 USD/ILS 3.1066 USD/MXN 20.8910 USD/CHF 0.9223 USD/INR 75.7637 USD/BRL 5.6388 USD/SGD 1.3672 USD/DKK 6.5870 USD/SEK 9.0636 USD/NOK 8.9970
-
USDThe US dollar rallied, erasing losses from Friday’s trading session ahead of a busy week for central bank meetings. Investors are focused on the FOMC’s meeting on Wednesday speculating that officials may speed up the pace of policy normalization.GBPSterling is trading slightly lower after strengthening the last two sessions. The market is anticipating that the Bank of England will push back its first rate increase since the pandemic into 2022 prioritizing caution with COVID over inflation worries.EUR
EUR/USD is trading lower holding below the 1.13 handle.
CADThe Canadian dollar weakened against a broadly higher US dollar. WTI crude prices are trading almost 1% lower putting additional downward pressure on the loonie.ASIA/PACIFICUSD/JPY is trading higher amidst broad US dollar strength. Australian bonds strengthened for a second day as markets move towards safe haven assets amidst the global spread of the Omicron variant.
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. |
