ECB’s Schnabel says they are right to continue with policy normalisation, Pakistan heads for elections.
April 4, 2022
GBP/USD 1.3136 GBP/EUR 1.1900 EUR/USD 1.1040 USD/CAD 1.2489 EUR/CHF 1.0209 EUR/SEK 10.3469 EUR/NOK 9.6655 EUR/DKK 7.4381 USD/ILS 3.2137 AUD/USD 0.7516 NZD/USD 0.6936 USD/SGD 1.3568 USD/JPY 122.61 USD/CNH 6.3723 USD/INR 75.4750 EUR/ILS 3.5478 GBP/ILS 4.2215 USD/ZAR 14.6122
The FCA and BoE will evaluate governance and risk management of the LME after weeks of turmoil which paralyzed the nickel market.
Long-delays have returned to Dover; however, Brexit hasn’t been the leading cause. The long waiting times are due to adverse weather and increased traffic.
GBPUSD trades up 0.16% and EURGBP trades down -0.21% in a morning of early strength for the pound.EUR
The ECB’s Schnabel said, the ECB is right to continue with plans to normalise policy, stating that some inflationary pressures may prove to be persistent due to structural economic changes.
Hungarian PM Viktor Orban scored a crushing election victory to win his fourth consecutive term.
EURUSD trades down -0.1%.USD
Some believe US intervention in the oil market have led oil prices to fall to prices that do not reflect the supply risk from geopolitical tension.
US Attorney General Garland will decide on prosecutions of the Jan 6th Riots.
US markets closed higher marginally on Friday. Both the NASDAQ and S&P saw 0.3% gains. The DXY trades flat to start the day.ASIA/PACIFIC
Beijing took a major step towards resolving the dispute over audit supervision of Chinese firms listed on US exchanges. China modified law allowing foreign regulators to inspect on sight.
Pakistan PM Imran Khan has been accused of illegal actions in his attempt to avoid defeat in a no-confidence vote. Pakistan is now looking towards a divisive general election.
Sri Lanka’s cabinet has offered its mass resignation following street protests over soaring living costs.ILS
USDILS has jumped higher by 0.41% intraday, in what seems to be a reversal on the downward trend of previous weeks. The USDILS has finished higher on the last three consecutive trading days, now trading around 3.217 as we print.Data & Events
DE – Feb. Trade Balance
BoE Bailey and Cunliffe speaks
US- Feb. Factory Orders
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.
© 2023 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.