Talks between US and Russia planned for next week are calming financial markets. Stocks are mixed around the world today, while ending the week lower, and bond yields are lower today, also ending the week lower. The dollar is lower today and for the week. Markets remain nervous about potential fighting in the Ukraine, particularly with estimates that Russian troops now total 190,000. Gold trades near $1900 an oz, up $80 on the week, and oil trades near $90 a barrel, off Monday’s high near $96, which was its highest level since 2014.
“We all live in suspense, from day to day, from hour to hour; in other words, we are the hero of our own story.”
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FX Rates
February 18, 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 1.1346 GBP/USD 1.3605 USD/CAD 1.2702 AUD/USD 0.7202 USD/JPY 115.03 USD/CNH 6.3260 USD/ILS 3.2030 USD/MXN 20.2955 USD/CHF 0.92 USD/INR 74.6625 USD/BRL 5.1274 USD/SGD 1.3443 USD/DKK 6.5562 USD/SEK 9.3315 USD/NOK 8.9572
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USD
Russian Foreign Minister Sergei Lavrov agreed to meet with US Secretary of State Antony Blinken next week, which has calmed financial markets at least temporally. It was a difficult week having to deal with a potential military conflict in the Ukraine – stocks are lower on the week, as are bond yields. The dollar has been in demand as a safe-haven currency for much of the year, but sold off to some extent this week as the conflict remains on hold.
GBPEarlier this morning, the UK pound reached $1.3643, its highest level of the week and for the month of February. It currently trades near $1.36 as traders take profits going into the weekend. UK Retail Sales for January were generally better than expected, as analysts see the waning impact of the pandemic helping consumers.
EURThe euro is slightly lower today following weak Construction Output in the Eurozone for December, and is lower on the week due to traders being nervous with Europe's proximity to Ukraine.
CADThe Canadian dollar is flat overnight, and remains solidly within the 1.2650 – 1.2775 trading range in place in the month of February. The ongoing drama between the Canadian government and truckers/protestors has not yet impacted the Canadian dollar; Canadian stocks have actually outperformed US stocks for the month of February. Canada Retail Sales for December were weak.
ASIA/PACIFICAsian currencies were mixed and little changed on the day. There were no important economic data releases.
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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