Novedades sobre el Intercambio Extranjero (en Inglés)
March 06, 2014
Indicative Interbank spot sell rates only as of 08:40 AM PST.
PLEASE CALL THE FX DEPARTMENT AT (626) 279-3235 FOR THE MOST CURRENT RATE
USD/CNY---- 6.1161 (onshore)
U.S. jobless-benefit claims fell to the lowest since November even as a harsh winter has weighed on other reports. U.S. jobless claims declined by 26,000 to 323,000 last week, the Labor Department reported.
The British pound weakened the most in more than a month against the euro as European Central Bank President Mario Draghi raised forecasts for euro-area growth this year, boosting the relative allure of the shared currency. U.K. 10-year bonds fell with German bunds. The pound depreciated against most of its 16 major peers, declining most against the Australian dollar, as the Bank of England kept interest rates at a record low. Policy makers held their bond-purchase stimulus target at 375 billion pounds ($628 billion) and said they would reinvest 8.1 billion pounds of funds related to the plan starting March 10. The pound slid 0.7 percent to 82.73 pence per euro at 4:32 p.m. London time, the biggest decline since Feb. 3. The currency was little changed at $1.6738 after climbing to $1.6823 on Feb. 17, the strongest since November 2009.
The euro rallied to a two-month high against the dollar after European Central Bank President Mario Draghi said inflation is expected to rise gradually, damping bets policy makers will introduce further monetary stimulus. The euro gained 0.8 percent to $1.3847 at 11:29 p.m. in New York after rising to $1.3857, the highest level since Dec. 27. The shared currency jumped 1.6 percent to 142.71 yen, the biggest advance since Sept. 19.
The Australian dollar strengthened for a fourth day after retail sales climbed and the trade surplus expanded. Australia’s dollar extended its daily winning streak to the longest since December after the Bureau of Statistics said exports exceeded imports by AUD$1.43 billion ($1.3 billion) in January, the most since August 2011. Retail sales increased 1.2 percent. The Aussie jumped 1.1 percent to 90.86 U.S. cents.
The Canadian dollar strengthened beyond CAD$1.10 per U.S. dollar for the first time in more than two weeks as building permits climbed more than forecast, adding to signs the global economy is picking up. The currency rose for a second day after the Bank of Canada kept its key interest rate unchanged yesterday and reiterated its next move depends on the progress of the economy. The loonie, as Canada’s currency is known for the image of the aquatic bird on the C$1 coin, gained 0.6 percent to C$1.0968 per U.S. dollar at 11:20 a.m. in Toronto and touched C$1.0956, the strongest since Feb. 19. It advanced beyond its 50-day moving average for the first time since October, a technical signal it may gain more. One loonie buys 91.17 U.S. cents.
The Japanese yen dropped to a five-week low versus the greenback after an advisory panel said Japan’s Government Pension Investment Fund no longer needs to focus on domestic bonds. The yen slid 0.7 percent to 103.05 per dollar after tumbling to 103.17, the weakest since Jan. 29.
China’s benchmark money-market rate fell to a 20-month low as the central bank drained the least cash from the financial system since January. The PBOC’s money-market operations have withdrawn 788 billion yuan from the financial system since the weeklong Lunar New Year break ended Feb. 6. The monetary authority injected 450 billion yuan in the two weeks leading up to the break, a period in which cash demand rises. The yuan climbed for a third day, the longest stretch of gains since mid-January. It dropped by a record 1.38 percent last month on speculation the central bank intervened to deter one-way appreciation bets in the currency.
This market update is prepared by Cathay Bank for informational purposes only and does not constitute any form of legal, tax or investment advice, nor should it be considered an assurance or guarantee of future exchange rate movements or trends. This information is provided without regard to the specific objectives, financial situation or needs of any recipient. Cathay Bank does not make any representations or warranties about the accuracy, completeness or adequacy of this market update.