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Cathay bank

Online Banking

Foreign Exchange Market Update

September 22, 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----0.7995
NZD/USD----0.7362
EUR/USD----1.1988
GBP/USD----1.3551
USD/CHF----0.9674
USD/JPY----111.80
USD/CAD----1.2288
USD/TWD----30.095
USD/CNY----6.5880 (onshore)
USD/HKD----7.8062
USD/SGD----1.3415
USD/MXN----17.7066
 
 
United States (US): The September Markit flash estimate of US manufacturing PMI was released in line with expectations at the two-month high of 53.0. The figure for August stood at 52.8. The respective number for the services sector came in at the two-month low of 55.1, below analysts’ forecasts for a reading of 55.8, as well as below August’s 56.0. The September flash composite PMI, which blends both the services and manufacturing sectors retreated to 54.6 in September from August’s 55.3.
 
 
Euro traded at 1.1963 against USD at 9:06 am PST. PMI data from Eurozone are generally better than market expectation. Eurozone PMI manufacturing rose to 58.2 in September, up from 57.4 and beat expectation of 57.2. Eurozone PMI services rose to 55.6, up from 54.7 and above expectation of 54.8. Germany PMI manufacturing rose to 60.6 in September, up from 59.3, and beat expectation of 59.0. Germany PMI services rose to 55.6, up from 53.5, beat expectation of 53.8. France PMI manufacturing rose to 56.0, up from 55.8, beat expectation of 55.5. France PMI services rose to 57.1, up from 54.9, beat expectation of 54.8.
 
 
British Pound exchange rate is 1.3525 against USD at 9:06 am PST. UK manufacturers' order books softened in September but both total orders and export orders remained strong. According to the latest monthly Industrial Trends Survey, a net balance of 7% of manufacturers said order books were above normal but it was below August's 13%. The balance of manufacturers reporting a rise in export orders came in at 10% compared to 11% in August.
 
 
Japanese Yen traded at 112.04 per USD at 9:06 am PST. Japanese government bonds firmed on Friday. The 10-year cash Japanese Government Bond (JGB) yield was down half a basis point at 0.020%, while the 10-year JGB futures contract finished up 0.05 point at 150.85.
 
 
Canadian dollar traded at 1.2313 per USD at 9:06 am PST. In Canada, headline inflation missed expectations in August with the CPI rising by 1.4% y/y (0.1% m/m), below the 1.5% forecasted (0.2% m/m) after it rose by 1.2% in July. The core equivalent measure remained steady at 0.9% y/y (0.0% m/m vs -0.1% m/m in July). Regarding July’s retail sales, those came in higher than projected, increasing by 0.4% m/m. However, excluding automobiles, household spending fell short of expectations, growing by 0.2% m/m, below the forecast of 0.4%.
 
 
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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