EUR down 13% over the last 12 months; Chinese authorities continue to crackdown on covid outbreaks.
-
FX Rates
April 29, 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 1.2561 GBP/EUR 1.1886 EUR/USD 1.0568 USD/CAD 1.2731 EUR/CHF 1.0234 EUR/SEK 10.3089 EUR/NOK 9.8105 EUR/DKK 7.4418 USD/ILS 3.3246 AUD/USD 0.7162 NZD/USD 0.6533 USD/SGD 1.3791 USD/JPY 129.89 USD/CNH 6.6197 USD/INR 76.3675 EUR/ILS 3.5132 GBP/ILS 4.1757 USD/ZAR 15.9036
-
GBP
Sinn Fein looks likely to become the largest party in Northern Ireland’s assembly, which could result in a pro-republican first minister for the first time.
Brexit minister Rees-Mogg defended his decision to delay post-Brexit border checks on imports from the EU, claiming it saves £1 billion per year and can help to ease the cost-of-living crisis.
GBPUSD has recovered through the Asian session, after yesterday saw the pair trade below 1.25.
EUREuro-area inflation is expected to moderate in April at 6.9%, GDP growth is anticipated to remain steady at 0.3%. This might be impacted by French figures which showed GDP growth slowing to 5.3% YoY and CPI advancing to 5.4% YoY.
The EUR has hit a five-year low this week, dropping 13% of its value in the past 12 months. The EUR however has made early gains up 0.55% intraday against the dollar.
USDThe PCE deflator, a measure of inflation, is seen rising to 6.7% in March from a year earlier. The employment cost index, could post a 1.1% increase across the 1Q, echoing robust growth in earnings.
Yesterday saw personal consumption fall below the market consensus at 2.7% down from the expected 3.5%.
The DXY has fallen 0.52% today, as concerns about China temper slightly.
ASIA/PACIFICChinese authorities continue to forcefully crackdown on covid outbreaks to buy time to immunize more of the population. This comes as Shanghai reported its first increase in Covid-19 cases in six days. They reported 9,970 infections and 52 deaths yesterday.
Meanwhile, Beijing continues to discuss on-site audits with US regulators, which would permit Chinese firms to continue to be listed in New York.
ILSUSDILS trades higher by 0.4% intraday, trading 1.75% on Monday’s open.
Data & EventsEurozone – CPI
US – PCE Deflator
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. |