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Cathay bank

Online Banking

Foreign Exchange Market Update

February 23, 2018

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

PLEASE CALL THE FX DEPARTMENT AT (626) 279-3235 FOR THE MOST CURRENT RATE
AUD/USD----0.7849
NZD/USD----0.7311
EUR/USD----1.2316
GBP/USD----1.3992
USD/CHF----0.9339
USD/JPY----106.42
USD/CAD----1.2639
USD/TWD----29.236
USD/CNY----6.3329 (onshore)
USD/HKD----7.8215
USD/SGD----1.3180
USD/MXN----18.5088
 
United States (US): There are no economic data release today. Next week data releases include new home sales, trade balance, durable goods orders, housing price index, GDP, personal consumption expenditures and jobless claims.
 
New Zealand dollar traded at 72.94 U.S. cents at 11:00 am PST. NZD turns lower despite retail sales beat expectation. New Zealand retail sales surged in the final quarter of last year. Retail sales in New Zealand increased 1.7% on quarter in the three months to December 2017, following an upwardly revised 0.3% rise in the previous quarter and above market consensus of a 1.4% gain. On an annual basis, retail sales grew by 5.4% after an upwardly revised 4.6% expansion in the previous quarter.
 
Euro traded at 1.2295 against USD at 11:00 am PST. The consumer price inflation in the Euro Area stood at 1.3% year-on-year in January 2018, unrevised from the preliminary estimate and compared to 1.4% in the previous month. It was the lowest inflation rate since July last year, as prices rose at a softer pace for energy and unprocessed food. The German economy expanded a calendar-adjusted 2.9%, following a 2.7% growth in the previous period. It was the strongest pace of expansion since the third quarter of 2011, mainly due to a positive contribution from net trade, as exports jumped 5.6% and imports rose at a softer 4.8%. Also, household consumption increased by 1.2% and fixed investment was up by 3.3% mainly boosted by investment in machinery and equipment by 6%. Considering 2017 as a whole, the GDP growth was confirmed at 2.5% on a calendar-adjusted basis vs 1.9% in 2016 and at 2.2% on a price-adjusted basis vs 1.9% in 2016.
 
Japanese Yen traded at 106.65 per USD at 11:00 am PST. Consumer prices in Japan rose by 1.4% year-on-year in January of 2018, after a 1.0% gain in the prior month while markets estimated 1.3%. It was the highest inflation rate since March 2015, mainly driven by a jump in cost of food. On a monthly basis, consumer prices went up 0.4%, compared to a 0.2% increase in the preceding month. Core consumer prices rose 0.9% in January from a year earlier due to higher energy costs.
 
Canadian dollar traded at 1.2666 per USD at 11:00 am PST. Inflation figures in Canada came in above consensus in January. Consumer prices in Canada were up 0.7% month-over-month in January of 2018, recovering from a 0.4% drop in December and above forecasts of a 0.4% increase. It is the highest monthly rate in a year. It was up 1.2% year-over-year.

 
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.
 

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1-800-9CATHAY

(1-800-922-8429)

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

Business Customer Service

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


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