ECB could end year with positive rates; Macron and Le Pen Clash; Tumbling Yen weigh on Japan’s corporate bond market.
-
FX Rates
April 21, 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 1.3072 GBP/EUR 1.1966 EUR/USD 1.0924 USD/CAD 1.2462 EUR/CHF 1.0339 EUR/SEK 10.2503 EUR/NOK 9.5763 EUR/DKK 7.4399 USD/ILS 3.2166 AUD/USD 0.7455 NZD/USD 0.6804 USD/SGD 1.3607 USD/JPY 128.04 USD/CNH 6.4724 USD/INR 76.1063 EUR/ILS 3.5137 GBP/ILS 4.2045 USD/ZAR 15.1580
-
GBP
The UK government proposed to delay a vote on whether Boris Johnson should face a probe over the party gate row. The government has stated the vote should await the conclusion of the police investigation.
GBPUSD remains level on yesterday as we print, the FTSE 100 has opened down 0.32%.
EURThe ECB may lift policy rates above zero before the end of the year providing that the bloc does not suffer a significant economic shock. Money markets currently price rates to be at 0.75% by the end of the year.
Macron and Le Pen clashed in their only presidential debate just four days before the election. The main items on the agenda were immigration, the cost-of-living-crisis, and the EU.
The euro is being used less often as a global payment currency, transactions using the euro dropped to 35.4% in March, as inflation and the war in Ukraine weighing on the currency’s appeal.
EURUSD trades up 0.52% intraday. The STOXX has opened higher marginally, up 0.13% as we print.
USDFed members are slowly joining the call for a 0.5% rate hike next month. Mary Daly has become the latest FOMC member to back the hawkish policy outlook.
The Fed Beige Book showed US economic growth was moderate through mid-April. Inflationary pressures and geopolitical developments continue to cloud the economic outlook.
The DXY trades down 0.32% intraday.
ASIA/PACIFICSpeculators on Chinese markets are losing enthusiasm over rebound hopes. Policy stimulus remains short of expectation. Shanghai yesterday reported a significant jump in the number of severe covid cases.
The tumbling Yen is adding volatility for Japan’s corporate bond market. Sales of yen-dominated notes are 31% lower than last year.
ILSUSDILS trades down -0.1%. The pair has continued a slight overall uptrend throughout 2022.
A second rocket has been fired from the Gaza strip into Israeli territory this week.
Data & EventsEuro-Area March CPI
US – Initial Jobless Claims
Risk Statement
Trading in financial instruments may involve a high degree of risk and may not be suitable for all investors. Trading in financial instruments can result in both loss and profit. Investors should carefully consider whether financial instruments suit their needs, financial resources and personal circumstances.
The information contained in this material is solely for informational purposes only and it is not and should not be construed as an offer or a solicitation of an offer to buy or sell any financial instruments and cannot be relied upon as a representation that any particular transaction necessarily could have been or can be effected at the stated prices. This material does not contrue advice.
For more analysis on FX markets or information regarding SVB's FX services:
0800 023 1440 from within the UK
+44 207 367 7880 from overseas
See all of SVB's latest FX information and commentary.
| Source: Bloomberg | |
© 2022 SVB Financial Group. All rights reserved. SVB, SVB FINANCIAL GROUP, SILICON VALLEY BANK, MAKE NEXT HAPPEN NOW and the chevron device are trademarks of SVB Financial Group, used under license. 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). Silicon Valley Bank is registered in England and Wales at Alphabeta, 14-18 Finsbury Square, London EC2A 1BR, UK under No. FC029579. Silicon Valley Bank is authorised and regulated by the California Department of Business Oversight and the United States Federal Reserve Bank; authorised by the Prudential Regulation Authority with number 577295; and subject to regulation by the Financial Conduct Authority and limited regulation by the Prudential Regulation Authority. Details about the extent of our regulation by the Prudential Regulation Authority are available from us on request. Silicon Valley Bank is a subsidiary of SVB Financial Group, a Delaware corporation and is an affiliate of SVB Financial Group UK Limited. SVB Financial Group UK Ltd is registered in England and Wales at Alphabeta, 14-18 Finsbury Square, London EC2A 1BR, UK under No. 5572575 and is authorised and regulated by the Financial Conduct Authority, with reference number 446159. SVB Financial Group and its subsidiary Silicon Valley Bank are members of the Federal Reserve System and Silicon Valley Bank is a member of the FDIC. Your eligible deposits with Silicon Valley Bank UK are protected up to a total of £85,000 by the Financial Services Compensation Scheme, the UK's deposit guarantee scheme. Any deposits you hold above the limit are unlikely to be covered. Please click here for further information or visit http://www.fscs.org.uk. For more detailed information about coverage and limits, please review our FSCS Information Sheet at http://www.fscs.org.uk. 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. Opinions expressed are our opinions as of the date of this content only. The material is based upon information which we consider reliable, but we do not represent that it is accurate or complete, and it should not be relied upon as such. |