Investors moved away from safe haven trading following announcement from China Evergrande Group that the firm will make its bond coupon payment ahead of the upcoming deadline. Both the US dollar and Japanese yen are trading lower versus peers as risk sensitive currencies advance. European stocks strengthen as S&P 500 futures are little changed.
“You’re only given a little spark of madness. You mustn’t lose it.”
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FX Rates
October 22, 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 1.1637 GBP/USD 1.3779 USD/CAD 1.2336 AUD/USD 0.7489 USD/JPY 113.8 USD/CNH 6.3887 USD/ILS 3.2078 USD/MXN 20.1852 USD/CHF 0.9162 USD/INR 74.8987 USD/BRL 5.7079 USD/SGD 1.3478 USD/DKK 6.3945 USD/SEK 8.5747 USD/NOK 8.3545
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USD
The Bloomberg dollar index is trading 0.2% lower while 10-year Treasuries fell 2 bps to 1.69%. The US dollar led G-10 currencies in losses as market risk sentiment was supported by China Evergrande Group’s bond coupon payment ahead of this weekend’s deadline.
GBPSterling trades mixed earlier in the session -- trading slightly higher and has since broken below the 1.38 handle. The chief economist for the Bank of England has stated that next month’s decision to raise interest rates is live but does not need to be overly restrictive.
EUREUR/USD trades within a tight range of 1.1621 -1.1647. Intraday moves could be dictated by broader market sentiment.CADRetail sales in Canada were released at 2.1% for the month of August versus economist expectations of 2%. USDCAD continues to trade lower, down 0.2%.ASIA/PACIFICUSD/JPY traded slightly lower, declining 0.1%. The Australian dollar traded lower earlier in the session following announcement from the country’s central bank for an unscheduled bond-purchase operation to defend its yield target. The currency has since advanced trading 0.5% higher.
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 | |
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