Briton’s could face 10% fall in real incomes, Euro-area inflation rises to 9.1%, China imposes large lockdown on Chengdu.
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FX Rates
September 1, 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.
Source: BloombergGBP/USD 1.1595 GBP/EUR 1.1562 EUR/USD 1.0029 USD/CAD 1.3183 EUR/CHF 0.9786 EUR/SEK 10.7300 EUR/NOK 10.0410 EUR/DKK 7.4369 USD/ILS 3.3488 AUD/USD 0.6833 NZD/USD 0.6103 USD/SGD 1.4000 USD/JPY 139.24 USD/CNH 6.9029 USD/INR 79.5150 EUR/ILS 3.3584 GBP/ILS 3.8828 USD/ZAR 17.1642
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GBP
Britons could be facing up to a 10% fall in real disposable incomes over the next two years, as inflation embeds into the economy. This may impact businesses as consumer reel in spending and economic confidence falls.
The Bank of England’s Decision maker survey will offer fresh clues on what to expect from the MPC. Last months survey saw rate expectations rise to 4.1% in July.
EURConsumer prices in countries using the euro have risen by 9.1%, rising 0.2% from the previous record set in July.
Italy’s global manufacturing PMI fell to 48 from 48.5 previously. The Euro trades 0.2% weaker against the dollar as we print.
USDThe US’s plan to cap the price of Russia’s oil, expanded yesterday as the UK publicly joined the plan. Janet Yellen is optimistic that substantial progress has and will continue to be made.
Democrat Peltola flipped Alaska’s house seat, growing the democrat’s narrow majority.
US weekly jobless claims are expected to edge higher to 248,000 today, the ISM manufacturing is expected to dip this month.
ASIA/PACIFICChina will conduct another large-scale lockdown in Chengdu, with testing and restrictive measures in place ‘indefinitely’. China’s manufacturing PMI fell to 49.5 in August, worst than expected and remaining in contractionary territory.
India and China will join Russia for War games starting today.
ILSUSDILS trades 0.5% higher intraday, continuing a steady climb from lows of 3.2 seen in August.
Data & EventsGermany Manufacturing PMI
UK Manufacturing PMI
BOE Decision Maker Survey
US Initial Jobless Claims
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