EURUSD and GBPUSD find new yearly lows; Russia cuts off gas supplies to Poland and Bulgaria; Fears supply chain shocks could drive commodity-fuelled inflation higher.
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FX Rates
April 27, 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 1.2566 GBP/EUR 1.1835 EUR/USD 1.0618 USD/CAD 1.2827 EUR/CHF 1.0245 EUR/SEK 10.4468 EUR/NOK 9.8178 EUR/DKK 7.4409 USD/ILS 3.3081 AUD/USD 0.7157 NZD/USD 0.6572 USD/SGD 1.3789 USD/JPY 127.92 USD/CNH 6.5848 USD/INR 76.6475 EUR/ILS 3.5122 GBP/ILS 4.1568 USD/ZAR 15.8736
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GBP
UK Ministers are proposing to slash food tariffs in a bid to ease the cost-of-living crisis. This would see levies on imported produces cut.
The UK government has faced criticism on the susceptibility of their pandemic stimulus programs to fraud. It is estimated that £4.9 billion was lost to fraud.
GBPUSD trades down -2.21% since the beginning of the week, continuing to break yearly lows.
EURPoland and Bulgaria have been cut off from Russian gas supplies in retaliation to payments not being made in rubles, as requested by Vladimir Putin.
EURUSD has fallen to its lowest levels since 2017, as risk-off sentiment and policy divergence between the Fed and ECB add strength to the dollar.
USDUS durable goods slipped below the consensus at 0.8% (consensus 1%). Consumer confidence also slipped from the estimate at 107.3.
The NASDAQ fell -4% following fears of tech earning like those seen in Netflix last month, the sell-off is repricing technology equities to the weaker growth environment. US pending home sales is expected to fall by 1%, despite rising mortgage rates. High wage growth is preventing an abrupt drop in demand.
The Dollar has strengthened to levels not seen since 2016.
ASIA/PACIFICChinese port activity has fallen below levels seen during the first outbreak in 2020.
JPY implied volatility has spiked, as the currency suffers collateral damage from the policy divergence between the Fed and BOJ.
ILSUDILS has rallied 4.1% over the last month breaching 3.3 levels yesterday.Data & EventsFrance April Consumer Confidence
ECB Three Speakers (Lane, Muller and Lagarde)
EIA Oil Inventory Report
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| Source: Bloomberg | |
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