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Cathay bank

Online Banking

Foreign Exchange Market Update

November 21, 2017

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----0.7601
NZD/USD----0.6855
EUR/USD----1.1761
GBP/USD----1.3251
USD/CHF----0.9896
USD/JPY----112.25
USD/CAD----1.2749
USD/TWD----29.983
USD/CNY----6.6260 (onshore)
USD/HKD----7.8092
USD/SGD----1.3518
USD/MXN----18.7724
 
 
United States (US): The Chicago Fed National Activity Index for October shows above trend growth. It increased to 0.65 from 0.36 in September, while the three-month moving average rose to 0.28 from 0.01. Sales of previously owned homes in the US rose by the most since March last month as hurricane-related disruptions eased. Existing home sales, which includes single-family homes, town homes, condominiums and co-ops, rose 2% to a seasonally adjusted annual rate of 5.48 million units last month. Economists polled by Reuters had forecast home sales rising 0.7% to a 5.42 million-unit rate in October.
 
 
Australia’s dollar traded at 75.81 U.S. cents at 9:14 AM PST and New Zealand dollar traded at 68.34 U.S. cents. Australia's consumer confidence strengthened during the week ended November 19 to the highest level in sixteen weeks. The consumer confidence index climbed to 116.4 form 114.8 in the preceding week. The details were broadly positive, with three out of five sub-indices posting gains, while the other two showed only slight falls. In New Zealand, total credit card spending increased for the second straight month in October. Credit card spending climbed 0.8% m/m in October, following a 0.7% rise in September. Domestic billings grew 0.8% over the month to NZ$3.3 billion and overseas billings rose by 1.9%. On an annual basis, credit card spending growth eased to 2.9% in October from 4.9% in the prior month. Data also showed that credit card balances increased 0.6% monthly in October, after a 0.5% rise in September. Yearly, credit card balances climbed at a slightly faster rate of 5.2% in October, following a 5.1% gain in the preceding month.
 
 
British Pound exchange rate is 1.3233 against USD at 9:15 am PST. UK total orders grew the most since 1988 and export order books reached the joint highest level in more than 20 years in November. A balance of 17% said total order book remained above normal in November, the highest since August 1988. The expected balance was 3%. At the same time, the export order book balance came in at 20%, which was above its long-run average of -18%. A balance of 13% expects output growth to accelerate in the coming quarter. The survey was conducted between October 26 and November 14.
 
 
Japanese Yen traded at 112.49 per USD at 9:15 am PST. Japans all industry activity decreased at a faster-than-expected pace in September, after rebounding in the previous month. The all industry activity index dropped 0.5% m/m in September, reversing a 0.2% rise in August. Economists had expected a 0.4% fall for the month. Construction output contracted 2.3% over the month and industrial production slid by 1.0%. Tertiary activity registered a moderate decline of 0.2%. On a yearly basis, all industry activity growth eased to 1.0% in September from 1.7% in the prior month.
 
 
Canadian dollar traded at 1.2768 per USD at 9:15 am PST. The value of Canadian wholesale trade unexpectedly dropped in September after two months of increases, pulled down by fewer sales in the personal goods and food sectors. The 1.2% decline from the previous month was far short of economists’ forecasts for an increase of 0.3%. Stripping out the effects of price changes, volumes decreased by 1.1%. Still, it was only the second time this year that the value of wholesale trade fell, and sales were up 1.5% in the third quarter. Sales declined in five out of seven sectors in September, accounting for 66% of wholesale trade. The drop was led by a 4.8% decrease in the personal and household goods sector.
 
 
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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