US dollar snaps three-day winning streak
“The only way to bring peace to the earth is to learn to make our own life peaceful.”
September 21, 2021
EUR/USD 1.1735 GBP/USD 1.3658 USD/CAD 1.2795 AUD/USD 0.7238 USD/JPY 109.27 USD/CNH 6.4825 USD/ILS 3.2050 USD/MXN 20.1185 USD/CHF 0.9234 USD/INR 73.6125 USD/BRL 5.3130 USD/SGD 1.3520 USD/DKK 6.3375 USD/SEK 8.6665 USD/NOK 8.6850
The greenback reversed its three-day gain as risk-sentiment became more neutral and as traders anticipate further news from China regarding the Evergrande Group debt crisis. Investors remain on the sidelines ahead of the Federal Reserve’s policy decision due on Wednesday.GBP
Sterling reversed a three-day losing streak as investor appetite for global risk increased. Traders will look for clues regarding policy from the Bank of England’s meeting on Thursday.EUR
EUR/USD is trading slightly higher on broad positive risk sentiment and US dollar's reversal. The upcoming election in Germany on September 26 has potential to impact the direction of the EUR/USD.CAD
The Canadian dollar outperformed its G10 peers following the release of Canada's federal election results, which showed that Prime Minister Justin Trudeau’s liberal party won the election. USD/CAD was down as much as 0.6%. A rebound in commodity prices also supported the loonie.ASIA/PACIFICAUD/USD is trading largely unchanged even after the release of minutes from Australia's central bank which stated that the variants of the coronavirus have caused a delay in progress for the country to reach its inflation and job goals.
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
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 Notice. If you have privacy questions, you may contact us at PrivacyOffice@svb.com. You can withdraw your consent at any time.
Thank you for subscribing to SVB's Daily FX Update.
You're almost done. Please check your email box and follow the instructions to confirm your subscription. If you did not receive an email please check your Spam or Bulk E-Mail folder just in case the confirmation email got delivered there instead of your inbox. If so, select the confirmation message and mark it Not Spam, which should allow future messages to get through. Please add us to your trusted list of senders, contacts or address book.
Please note that we will continue to send you communications that we need to send you (for example, to keep you updated on operational changes to your account, a product or a service) or that we are required to send you by law.
This article is intended for U.S. audiences only.
©2021 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 and other advisors, and only make investment decisions on the basis of your own objectives, experience and resources.