.png){kind=logo}
Russia willing to talk despite continued military build-up, EU to reduce future reliance on Russian Gas.
-
FX Rates
February 18, 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 1.3626 GBP/EUR 1.1984 EUR/USD 1.1370 USD/CAD 1.2683 EUR/CHF 1.0466 EUR/SEK 10.5821 EUR/NOK 10.1404 EUR/DKK 7.4386 USD/ILS 3.1928 AUD/USD 0.7214 NZD/USD 0.6719 USD/SGD 1.3436 USD/JPY 115.16 USD/CNH 6.3211 USD/INR 74.6961 EUR/ILS 3.6314 GBP/ILS 4.3520 USD/ZAR 14.9893
-
GBP
UK retail sales are expected to bounce back 1.2% today, following a 3.7% slump in December. Despite the expected growth, it is likely that soaring prices will continue to impact consumer behavior moving forward. Meanwhile, UK office occupancy reached its highest rate since the pandemic, at 27%.
The UK political landscape remains uncertain, as labour and the liberal democrats begin informal discussions into an electoral pact, targeting the removal of the incumbent conservative government.
The FTSE trades 0.25% higher in early trading, the pound trades up 0.1% against the dollar, and flat against the euro.
EUREurozone consumer confidence is expected to have marginally improved in February up 0.5% from the previous month. The race to compete against Macron in the French elections, is heating up with Le Pen, Zemmour and Pecresse separated by only 2 points.
The EU is expected to announce plans to impose minimum gas stockpiles on member states to better prepare for next winter, and ease reliance on Russian supplies.
European equities have edge higher in early trading following a sell-off yesterday, as investors digest White House claims that an invasion could once again be ‘imminent’. The STOXX and CAC are currently trading up 0.1% and 0.35%.
USDUS Secretary of State Antony Blinken will meet Russian Foreign Minister Sergei Lavrov next week. This comes despite reports suggesting Russian-backed separatists have increased shelling on Ukrainian forces. Short-dated treasuries rallied following the release of FOMC minutes on Wednesday.
US stocks gained with the NASDAQ and S&P500 closing 0.77% and 0.7% higher respectively.
ASIA/PACIFICJapan’s inflation slowed last month by 0.2%, consolidating the BOJs opinion that it should be measured with its removal of stimulus.
Hong Kong continues to suffer with a coronavirus surge, the government continues with the policy requiring infected persons to isolate in hospital. Plans are underway to offer rapid testing to all residents.
The Hang Seng closed the Asian session down 1.88%, and the Nikkei closed 0.41% lower. The CSI finished up 0.48% outperforming other Asian markets.
ILSThe shekel continues its gradual decline from weekly highs of 3.267 seen on Monday following strong growth data. USDILS is down -1.72% over the week.Data & EventsFR – Jan CPI
UK – Sells bills
EU – Consumer Confidence Feb
US – Jan Leading Index
US – Monetary policy forum
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.
Subscribe to receive the Daily FX Update in your inbox.
By providing your email address and clicking on the Subscribe button below, you consent to receive emails from Silicon Valley Bank for your chosen categories. You also consent to the terms of our Privacy Notice. If you have privacy questions, you may contact us at PrivacyOffice@svb.com. You can withdraw your consent at any time.
Thank you for subscribing to SVB's Daily FX Update.
You're almost done. Please check your email box and follow the instructions to confirm your subscription. If you did not receive an email please check your Spam or Bulk E-Mail folder just in case the confirmation email got delivered there instead of your inbox. If so, select the confirmation message and mark it Not Spam, which should allow future messages to get through. Please add us to your trusted list of senders, contacts or address book.
Please note that we will continue to send you communications that we need to send you (for example, to keep you updated on operational changes to your account, a product or a service) or that we are required to send you by law.
| 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. |