The West unveils sanction packages against Russian debt and oligarchs, whilst the buildup of Russian troops in Ukraine continues. Omicron cases continue to rise across the Asia-Pacific region.
-
FX Rates
February 23, 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 1.3611 GBP/EUR 1.2003 EUR/USD 1.1340 USD/CAD 1.2734 EUR/CHF 1.0443 EUR/SEK 10.5713 EUR/NOK 10.0559 EUR/DKK 7.4393 USD/ILS 3.2266 AUD/USD 0.7245 NZD/USD 0.6781 USD/SGD 1.3445 USD/JPY 115.03 USD/CNH 6.3161 USD/INR 74.5763 EUR/ILS 3.6589 GBP/ILS 4.3917 USD/ZAR 15.0336
-
GBP
Boris Johnson has come under fire for imposing “peashooter” sanctions on Russia. Following a strategy similar to the US, the UK hopes to scale up its sanctions should Russia escalate tensions in Ukraine.
‘Partygate’ re-emerged as a leading story yesterday, following a report confirming the PM is being questioned under police caution, as the Met investigates 6 parties at which the PM was allegedly in attendance.
The FTSE100 is up by 0.51% intraday. Sterling trades 0.15% higher against the dollar and up 0.05% against the euro at time of writing.
EURECB’s Holzmann has struck a hawkish tone by indicating his belief that the ECB should raise rates prior to the end of asset purchases, contradicting previous comments from Lagarde. Euro-area January CPI is forecast at 5.1%.
Oil prices have steadied following wild swings that took brent crude to $99.50 a barrel, amidst ongoing pressures across Europe.
Since this morning’s open, the STOXX trades up 1.02% and the CAC40 0.9%. The Euro trades 0.20% higher against the dollar.
USDPresident Biden announced multiple sanctions on Russia yesterday, aligned to that imposed by the UK and EU. The sanctions have been open to much criticism for being too soft compared to what was previously threatened. Meanwhile, comments from Washington and Moscow indicate the proposed French brokered summit is now off the table. US forces are trickling into Eastern Europe following orders from Defence Secretary Lloyd Austin.
The DXY trades down -0.06%, and yesterday the NASDAQ and S&P500 closed higher by 0.81% and 0.58% respectively.
ASIA/PACIFICHong Kong has announced new support measures for ‘anti-epidemic’ needs. GDP growth is currently forecast to halve in 2022 following strict covid measures.
Mainland Chinese banks have accelerated mortgage approvals to ease troubles on a struggling real-estate industry.
France has removed Australia from is list of key Asian partners, in an ongoing dispute following the AUKUS submarine agreement.
ILSUSDILS currently trades 0.36% lower at 3.2200, bouncing off one-week highs above 3.2400 yesterday.
Data & EventsEuro-Area – Core Inflation rate
Germany - Consumer Confidence
US- MBA Mortgage Approvals
UK - BOE’s Bailey testifies before parliament Treasury Committee.
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. |