Party gate penalties are expected to be issued today. Global supply chains are worsening. Yen hits six-year low.
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FX Rates
March 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 1.3091 GBP/EUR 1.1900 EUR/USD 1.1900 USD/CAD 1.2504 EUR/CHF 1.0289 EUR/SEK 10.3722 EUR/NOK 9.5512 EUR/DKK 7.4377 USD/ILS 3.2139 AUD/USD 0.7501 NZD/USD 0.6891 USD/SGD 1.3608 USD/JPY 123.49 USD/CNH 6.3847 USD/INR 76.1138 EUR/ILS 3.5358 GBP/ILS 4.2072 USD/ZAR 14.6970
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GBP
The Metropolitan Police are expected to release the first fines for Downing Streets Lockdown parties. The PM is unlikely to be the direct target of police action today, however, he had repeatedly insisted that no rules were broken.
Rishi Sunak defended his 2024 income tax cut, suggesting it is to impose discipline on the UK government after the pandemic rapidly expanded public spending.
EURGBP trades higher by 0.17%. and GBPUSD trades up 0.1%. Global shares climbed with the FTSE gaining 0.75% on open.
EURThe EU is facing a divided recovering and economic outlook, as inflationary pressures and the threat of stagflation will likely affect member states differently.
Russian and Ukranian delegates have arrived in Istanbul for the first face-to-face talks in a fortnight. Ukraine has said its top priority is to negotiate a ceasefire with Russia although remains sceptical about their intentions.
The euro has found early strength against the dollar up 0.2%. the Stoxx 600 advanced, up 1% at time of writing.
USDJoe Biden has reiterated his previous comments that Putin “cannot remain in power”, defending them as an expression of his outrage over the conflict in Ukraine.
Bets on aggressive US monetary tightening have continued to undermine shorter maturity treasuries, whilst Government bond yields climbed.
The DXY is trading 0.12% lower as we print. US equity futures rose as sentiment was boosted by upcoming Russia/Ukraine ceasefire talks.
ASIA/PACIFICThe Yen traded around a six-year low yesterday as the BOJ intervened in the bond market. Japan’s jobless rate fell slightly to 2.7% in Feb, down from 2.8% in Jan.
Australia will highlight its strong outlook for the economy in its budget today, primarily aiming to boost prospects in upcoming elections.
ILSUSDILS appears to have stabilised over the last week, trading in a tight range between 3.21 and 3.23. Intraday USDILS trades down -0.2%.
Data & EventsFR – Consumer Confidence
UK – Mortgage approvals
US – House price Index
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