Resolve builds around 75-bps hike. Italian political uncertainty temporarily weakens euro; China’s economy grew at slowest pace in two years.
-
FX Rates
July 15, 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 1.1820 GBP/EUR 1.1792 EUR/USD 1.0025 USD/CAD 1.3124 EUR/CHF 0.9834 EUR/SEK 10.5971 EUR/NOK 10.2974 EUR/DKK 7.4423 USD/ILS 3.4868 AUD/USD 0.6720 NZD/USD 0.6119 USD/SGD 1.4053 USD/JPY 138.86 USD/CNH 6.7781 USD/INR 79.9088 EUR/ILS 3.4953 GBP/ILS 4.1214 USD/ZAR 17.2769
-
GBP
Tory hopefuls will compete today in a national TV debate. Yesterday’s voting saw attorney general, Braverman knocked out. Sunak remains out in front; however, Mordaunt gained the most votes through yesterday’s voting.
EURItalian bond and stock futures plunged to fresh lows, with the euro temporarily dipping below parity after Italian PM Draghi offered his resignation. This was rejected by the president, with Draghi to address parliament next week.
The ECB will unveil its unlimited bond-buying tool aimed at helping market adjust to the incoming tightening environment.
USDWaller and Bullard have publicly backed a 75-bps hike at July’s meeting, this comes as PPI echoed Wednesday’s CPI print exceeding expectations at 11.3%.
US retail sales are expected to advance 0.9% MoM in June. Industrial output is seen nudging forward 0.1%.
ASIA/PACIFICChina’s economy grew at its slowest pace in more than two years, highlighting the impact of its stringent covid policy. Q2 growth was 0.4%, missing the 1.2% consensus. The yuan slipped against the dollar.
A survey of economists sees the BOJ keeping its yield control and asset purchases unchanged, with only 14% expecting some form of tightening from the BOJ under Kuroda.
ILSUSDILS trades 0.2% lower, after briefly pushing above 3.5 yesterday.
Data & EventsItaly June CPI
Euro-Area Trade Balance
G-20 Finance Ministers Meet
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. |