Treasury halts dollar debt payments from Russian government; Zelensky continues to address UN over alleged Genocide in Bucha; RBA holds cash rate at 0.1%.
-
FX Rates
April 5, 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 1.3135 GBP/EUR 1.1956 EUR/USD 1.0986 USD/CAD 1.2459 EUR/CHF 1.0165 EUR/SEK 10.3253 EUR/NOK 9.5557 EUR/DKK 7.4375 USD/ILS 3.2105 AUD/USD 0.7630 NZD/USD 0.6996 USD/SGD 1.3553 USD/JPY 122.79 USD/CNH 6.3640 USD/INR 75.4163 EUR/ILS 3.5269 GBP/ILS 4.2168 USD/ZAR 14.5453
-
GBP
The UK is set to outline its energy strategy on Thursday. This comes as clean power groups call for a reduction in red tape for planning and permits. The UK government has also announced that it will sell Channel 4.
In March, 60% of UK businesses in the foods sector reported being affected by rising energy prices, the average across all industries was 38%.
GBPUSD trades higher by 0.15%, the FTSE100 closed yesterday up 0.28%.
EURLithuania became the first EU member to end its dependency on Russian gas. Meanwhile, the EU will discuss, “stepping up sanctions” today.
EURUSD trades slightly higher at 0.04%. The euro trades lower against sterling by 0.13%.
USDThe US Treasury halted dollar debt payments from Russian government accounts hoping to push Moscow towards three unappealing solutions for the economy. The Russian government will have to: use dollar reserves, spend new revenue, or potentially default on its debt. This follows Russia’s alleged repositioning to focus on the eastern offensive.
The US trade deficit is expected to narrow today, marginally impacted by recent dollar strength weighing in on import/export prices.
Twitter’s surge helped to bolster US equities yesterday, with the NASDAQ closing 1.9% higher. The Dollar trades down marginally by -0.1%
ASIA/PACIFICSri Lanka have appointed a new governor, Weerasinghe. The country currently faces an inflation crisis spurred by a severe shortage of dollars.
South Korea’s inflation accelerated to 4.1% in March, the highest in over a decade. Meanwhile, Filipino and Thai inflation quickened to 4% and 5.7%.
ILSUSDILS has continued its recovery from monthly lows on the 31st March. It currently trades higher by 0.18% as we print. However, the pair is down -2.26% over the last month.Data & EventsEU – Composite PMIs (ES, IT, FR, GE, EU)
UK – Composite PMIs
UK – Sells bonds
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. |