European inflation continues to beat market consensus; Fed's preferred inflation indicator to release today; UK GDP growth slows.
-
FX Rates
March 31, 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 1.3121 GBP/EUR 1.1803 EUR/USD 1.1117 USD/CAD 1.2529 EUR/CHF 1.0278 EUR/SEK 10.3402 EUR/NOK 9.6794 EUR/DKK 7.4385 USD/ILS 3.1736 AUD/USD 0.7473 NZD/USD 0.6931 USD/SGD 1.3541 USD/JPY 122.07 USD/CNH 6.3519 USD/INR 75.7100 EUR/ILS 3.5280 GBP/ILS 4.1639 USD/ZAR 14.5116
-
GBP
GBP
A record number of UK companies are expected to increase wages over the next year, as living costs stress the consumer.
UK GDP growth shows sign of stagnation rising by only 0.1% over March.
EURGBP trades down -0.3%EURGerman inflation jumped to 7.3%, up from 5.1% the previous month. This highlighted a worsening inflation outlook across the continent, as Spanish inflation also came in at 9.8%. The Bloc’s CPI is set to be announced tomorrow. This could prompt the ECB to change tact on monetary policy.
EURUSD trades down -0.35 intraday.USDThe US announces it is considering a release of a million barrels a day, from its reserves, sending oil prices plummeting, hence rising global equities.
Jobless Claims are expected to rise to 196,000 later today. The Fed’s preferred inflation measure, the PCE deflator also reports today.
Fed officials are keeping a close eye on the yield curve, to monitor the impact of their implied future policy. This follows a brief inversion on the 2- and 10-year yield curve.
ASIA/PACIFICChinese provinces sold special bonds at the fastest pace ever for the first quarter, hinting that infrastructure investment might pick up. China’s manufacturing PMI, slipped into the red at 49.5, following lockdowns in key manufacturing hubs.
Japan’s industrial outlook slipped by 0.1%, below estimates of 0.5%
ILSUSDILS has continued its downward trend, falling -0.18%. The pair trades down almost -2.5% on the month.
Data & EventsUS – Initial Jobless Claims
US – PCE deflator
OPEC Monthly Meeting
CPI – Italy and France
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 | |
© 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. |