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Greenback slightly higher than peers as other G10 currencies trade in a tight range amidst quarter-end flows. The euro is headed for its eighth monthly loss this year as global growth concerns continue to weigh on the common currency.
Monday: US Dallas Fed Manufacturing Activity
Tuesday: Canada GDP. Markit Canada Manufacturing. Markit US Manufacturing PMI. US ISM Manufacturing
Wednesday: US ADP Employment Change
Thursday: US Initial Jobless Claims
Friday: US Jobs Data
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FX Rates
September 30, 2019Rates 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 1.0899 GBP/USD 1.2306 USD/CAD 1.3251 AUD/USD 0.6755 USD/JPY 108.04 USD/CNH 7.1405 USD/ILS 3.4807 USD/MXN 19.7169 USD/CHF 0.9972 USD/INR 70.8675
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USD
The greenback hit fresh 2019 highs as EUR fell below 1.09 and GBP fell below 1.23. US dollar strengthened against peers as US-China trade talks remain a focus for markets ahead of Tuesday’s speech by Chinese President Xi Jinping.
GBPSterling strengthened overnight during the European session following release of data that showed the UK economy expanded a little faster than estimated in the second quarter. The pound remains largely unchanged and is hovering around the 1.23 handle.
EURThe euro broke through 1.09 to the downside following a report from Reuters stating that leading economic institutes are cutting their 2019 growth forecast for Germany. The expectation for growth is now 0.5% vs. the April forecast of 0.8%. The growth forecast for 2020 was also cut to 1.1% from April’s estimate of 1.8%.
CADUSD/CAD is little changed trading around 1.3250 as we head into month and quarter end. WTI crude prices are weaker by 1.2% at $55.25/bbl after the Saudi Arabian refinery strike.
ASIA/PACIFICUSD/JPY trades to session highs after Bank of Japan reduced the buying of three-to-five year bonds and increased purchases of one-to-three year debt to try to steepen the yield curve.
Reserve Bank of Australia is due to meet on Tuesday and the expectation is for the central bank to keep its cash target rate at 1.00%. AUD/USD is slightly lower trading around 0.6750.
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
