Get started with SVB

Are you an innovation company or investor seeking banking services to help you move bold ideas forward, fast?

Let's get started

Existing SVB clients

Get quick answers from our support page.

For help with commercial cards
1.866.553.3481
cardservices@svb.com

For other questions contact Client Service:

1.800.774.7390
clientservice@svb.com

Find a location

Technical or site issue?

Daily
FX Update

US-China trade talk optimism pushes US dollar to highest levels since August

 | 

Haven currencies weaken as general risk-on sentiment increases given the optimism around a trade deal between the US and China. Canada released data this morning (housing starts and employment numbers) softer than expected resulting in the loonie weakening above 1.3200. Sterling remains largely unchanged after declining this week in reaction to uncertainty for the upcoming December election.

"It takes as much energy to wish as it does to plan."
Eleanor Roosevelt
  • FX Rates
    November 8, 2019

    Rates 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.


  • USD

    US dollar is set for its longest win streak in two months, gaining for the fifth day on optimism for the trade talks between the US and China. The market has signaled that investors are pushing out bets for further easing by the Federal Reserve.

    GBP

    Sterling remains largely unchanged trading below 1.2800 earlier in the session. This is the first time the currency pair has traded under the 1.2800 handle in three weeks. The uncertainty around the election has caused sterling to decline almost 1% this week.  

    EUR

    Despite improvement in German trade numbers and better than expected manufacturing production in both France and the Netherlands, EUR/USD is set for a weekly loss. The currency pair has fallen more than 1% since Monday.  

    CAD

    USD/CAD traded above the 1.32 handle after the release of Canadian Housing Starts showed 202k vs. the expectation of 220k. The currency pair is headed for a weekly gain of over 0.5%. WTI crude is down ~1% trading around $56.50/bbl.

    ASIA/PACIFIC

    Reserve Bank of Australia released comments stating that the central bank is prepared to ease further if needed, causing the currency to weaken. Haven currencies including Japanese yen have suffered this week as markets increased risk-on sentiment.

Contact Us

For more analysis on FX markets or information regarding SVB's FX services:

Contact your respective SVB FX Advisor or the SVB FX Advisory Team at fxadvisors@svb.com.
See all of SVB's latest FX information and commentary at www.svb.com/foreign-exchange

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 Policy. If you have privacy questions, you may contact us at privacy@svb.com. You can withdraw your consent at any time.

About the Author

Cate Camerota is currently an FX Advisor at Silicon Valley Bank focusing on early stage and growth Technology names in New England and Eastern Canada. Prior to SVB, Cate worked in FX Sales/Trading at Wells Fargo and Citizens Bank where she supported a portfolio of Middle Market and Mid-Corp clients throughout the Northeast. Cate helped clients identify FX risk and implement strategic hedging programs.

Outside of work, Cate is involved with the Boys & Girls Club of Boston Friends Council, Ladies FORE Finance (women's golf league) and My Life My Choice.

Follow Author on LinkedIn

Now Let's Get Started

See how SVB makes next happen now for entrepreneurs like you.

Connect with Us