• 繁體中文 | 简体中文 | English | Español

Online Banking

Foreign Exchange Market Update

January 24, 2017

Indicative Interbank spot sell rates only as of 9:00 AM PST.

USD/CNY----6.8555 (onshore)
United States (US) Existing home sales fell more than expected in December but there were upward revisions to November data that nearly offset the miss.   Low inventories remain an important theme in existing home sales inventories fell 10% in December, pushing months' supply to just 3.6 months, the lowest level in 15 years.  Home re-sales have averaged 5.57 million over the past 3 months and 5.48 million over the past 6 months, suggesting that the housing market is still improving.  The median sales price finished 2016 at 232k, up 4% on the year. 
Euro traded at 1.0741 against USD at 11:47 am PST. Business activity in euro zone eased slightly in January according to the latest purchasing managers index falling to 54.3 from 54.4 in December. The euro zone economy has started 2017 on a strong note. The January flash PMI is signaling respectable quarterly GDP growth of 0.4 percent with a broad-based expansion across both manufacturing and services. Services activity rose to 53.9 from 52.9 in December. Manufacturing PMI dropped slightly from 53.5 to 53.4. Despite the modest fall, manufacturing firms noted a fifth successive rise in output. In Germany, the largest EU economy, growth in the private sector showed some signs of easing but manufacturing remained strong.  The flash German PMI composite was 54.7 from 55.2 in December, reaching a four-month low. Services activity dropped from 54.3 last month to 53.2 but manufacturing PMI was slightly higher at 56.5. However, German companies in both services and manufacturing expect a healthy growth throughout this year.
British Pound exchange rate is 1.2521 against USD at 11:47 am PST. Britain's public finances deficit narrowed by less than expected in December, but the Treasury could still hit its target for the year after November's figures were revised to show a better performance than initially thought. According to data released by the Office for National Statistics (ONS) on Tuesday (24 January), public borrowing last month declined 5% month-on-month to £6.9bn ($8.6bn), compared with expectations for a £6.7bn figure. Meanwhile, the previous month's deficit was revised from £12.6bn to £11.3bn, which brought the borrowing tally for the first nine months of the 2016-17 tax year up to £63.8bn, 14.3% lower than in the corresponding period 12 months earlier.
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 situations or needs of any recipient. Cathay Bank does not make any representations or warranties about the accuracy, completeness or adequacy of this market update.




Consumer Customer Service
6:00 a.m. - 7:30 p.m. Pacific Time, Monday through Friday.

Business Customer Service
6:00 a.m. - 6:00 p.m. Pacific Time, Monday through Friday.

Automated information is available 24 hours a day, 7 days a week.

U.S. customers in Hong Kong can dial toll-free 3710-1400 to contact U.S. Customer Service directly.

Thanks for visiting the Cathay Bank Web Site!

You are about to leave the web site of Cathay Bank and enter into a site that is not controlled by us.

Cathay Bank does not endorse, sponsor or guarantee the information, content, presentation, accuracy or recommendations provided by the site. In addition, Cathay Bank is not responsible for the privacy practices or security of the site. You are encouraged to review the privacy policy of the Web Site before providing any personal information.

If you have any complaints regarding the site, or the service(s) offered, please contact us at:

Cathay Bank

Compliance Department

9650 Flair Drive EL-5-C

El Monte, CA 91731.

E-mail communication is not secure

Please do not include sensitive information such as account numbers or non-public personal information such as Social Security or Tax Identification numbers in any e-mail sent to us via this link.