The greenback weakened slightly against its G-10 peers after trading at its strongest levels in a year last Friday. Data out of China showed that the nation performed better than expected for the month of October, which supported commodity-linked currencies, including RUB, AUD, NZD and CAD. The Canadian dollar is now the best performing currency year-to-date, while the EUR continues to trade within a tight range.
This week's economic data:
Monday: US Empire Manufacturing
Tuesday: US Retail Sales, UK Jobless Claims, EU GDP
Wednesday: UK CPI, EU CPI, CA CPI
Thursday: US Initial Jobless Claims
-
FX Rates
November 15, 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 1.1442 GBP/USD 1.3430 USD/CAD 1.2510 AUD/USD 0.7365 USD/JPY 113.95 USD/CNH 6.3767 USD/ILS 3.1028 USD/MXN 20.5805 USD/CHF 0.9203 USD/INR 74.4850 USD/BRL 5.4560 USD/SGD 1.3513 USD/DKK 6.5020 USD/SEK 8.7390 USD/NOK 8.6700
-
USD
The greenback is trading slightly lower today after hitting a one-year high on Friday. The US Treasury curve flattened with 2-year yields flat while 30-year yields fell nearly 3 bps.
GBPThe UK pound is trading above $1.34 as markets await comments from Bank of England Governor Andrew Bailey later today during his parliamentary testimony. Markets are anticipating a 0.25% rate hike at the central bank’s December 16 meeting.
EUREUR/USD trades within tight range of $1.1437 - 1.1464 amid declining volatility. German bund yields trade mixed following comments from the ECB’s President Lagarde, stating that inflation will likely remain below its 2% target in the medium term.CADThe Canadian dollar is now the best performing G-10 currency YTD, up 1.7% despite a broadly stronger US dollar.
ASIA/PACIFICThe Australian dollar strengthened after data out of China showed that the economy performed better than expected for the month of October. The Japanese yen is trading slightly weaker following data that showed the country’s super-long government bonds underperformed and that supply may increase to finance government spending.
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 | |
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. |
