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Foreign Exchange Market Update

Foreign Exchange Market Update

Please call the FX Department at 626-279-3235 for the most current rate.

January 21, 2022

Overnight changes in major currencies (9:00 a.m. PST)


European Union (EU): Eurozone Consumer Confidence Falls Less Than Expected

Euro traded at 1.1343 against USD at 9:00 am PST.

Eurozone's consumer confidence weakened for a fourth month in a row in January, but the decline was less than expected, preliminary data from the European Commission showed. The flash consumer confidence index eased to -8.5 from -8.4 in December. The latest reading remained the worst since March, when the score was -10.8. The corresponding indicator for the EU dropped to -10.0 from -9.6 in the previous month. The indicators for both regions are now well below its pre-pandemic level and approaching its long-term average in both areas. 01/21/2022 - 8:04:00 (RTTNews)


United Kingdom (UK): Consumer Sentiment Weakens in January: GfK

British Pound traded at 1.3556 against USD at 9:00 am PST.

UK consumer confidence weakened in January amid concerns over higher inflation and interest rate hikes, survey results from GfK showed. The consumer confidence index fell to -19 in January from -15 in the previous month. All five measures of the index were down in comparison to the December 17th data. The index measuring the past personal financial situation dropped slightly to -6 in January from -5. The outlook for personal financial situation declined 3 points to -2. The assessment of general economic situation logged a marked decline. The gauge for the past general economic situation slid to -47 in January from -39 in the prior month. At the same time, the outlook for general economic conditions worsened to -32 from -24. The major purchase index came in at -10 versus -6 in the previous month. 01/21/2022 - 01:53:00 (RTTNews)


Japan Inflation Climbs 0.8% On Year in December

Japanese Yen traded at 113.80 against USD at 9:00 am PST.

Overall consumer prices in Japan were up 0.8% on year in December. That was in line with expectations and up from 0.6% in November. Core CPI, which excludes volatile food prices, was up an annual 0.5% - unchanged but shy of forecasts for 0.6%. Individually, prices were up for food, housing, fuel, clothing, education and recreation; they were down for furniture, medical care and communications. On a seasonally adjusted monthly basis, overall inflation and core CPI both were up 0.1%. 01/20/2022 - 20:35:00 (RTTNews)

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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