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Tag: krone

Interbank market news scan: Major G-10 currencies split on growth with Swiss, Norwegian, and Swedish currencies depreciating…

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The Swiss franc, Norwegian krone, and Swedish kroner ended this week depreciating the most against the US dollar. More later today as to the political, economic, central bank, and commodity price information that not only impacted the market but that brokers should be sharing to help maintain fairness and integrity in the foreign exchange market.

Currency pair22 March 202125 March 2021Percentage change
EUR/USD1.19131.1798-.96
AUD/USD0.77340.7592-1.84
GBP/USD1.38511.3712-1.00
USD/JPY108.765109.0580.27
NZD/USD0.71610.6966-2.7
USD/CHF0.92620.93721.19
USD/NOK8.52218.61381.08
USD/SEK8.53018.62931.16
USD/CAD1.25091.25880.63
Source: OANDA

As of 10:59 am AST, dollar shows some strengthening as yields increase

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PairsFederal Reserve as of 8 January 2021OANDA as of 11 January 2021OANDA as of 12 January 2021 10:59 am AST
GBP/USD1.35831.35031.35026
USD/CAD1.26981.27691.2769
USD/CNH6.47506.47826.4782
USD/DKK6.06976.11156.1115
EUR/USD1.22521.21671.2167
USD/INR73.310073.409373.4093
USD/MXN19.941020.120320.1203
USD/JPY103.8900104.1600104.1600
USD/NOK8.40748.51598.5159
USD/SEK8.20858.28078.2807
USD/CHF0.88430.88920.8892
Sources: Federal Reserve, OANDA
RatesFederal Reserve as of 8 January 2021Bloomberg as of 12 January 2021 10:59 am AST
Federal Funds Rate0.090.08
Prime Rate3.253.25
3-month Treasury0.080.08
2-year Treasury0.140.15
10-year Treasury1.131.17
30-year Treasury1.871.89
Sources: Federal Reserve, Bloomberg

As of 10:00 pm AST, the dollar strengthens against the rupee, peso, yen, Swedish krona, and Swiss franc …

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PairsFederal Reserve as of 4 January 2021OANDA as of 4 January 2021OANDA as of 10 January 2021 10:00 pm AST
GBP/USD1.36621.36331.3559
USD/CAD1.27531.27261.2687
USD/CNH6.52506.45526.4631
USD/DKK6.08396.06576.0823
EUR/USD1.22301.22641.2215
USD/INR73.010072.936773.2500
USD/MXN19.892019.838219.9603
USD/JPY103.1900103.0200103.9400
USD/NOK8.57578.53008.4110
USD/SEK8.20958.20918.2316
USD/CHF0.88410.88150.8851
Source: Federal Reserve, OANDA

Legal/Political/Economic/ Events Impacting US Dollar

Pressure mounts on US president to leave office before 20 January

At the time of this writing, no public statement surrounding the issue of leaving office has been issued by President Trump. Bloomberg reports mounting pressure on Vice President Mike Pence to gather the President’s cabinet and bring about Mr Trump’s removal from office by invoking the 25th Amendment of the U.S. Constitution. Speaker of the House Nancy Pelosi is expected to move on a House resolution that gives Vice President Pence 24-hours to invoke the 25th Amendment. If Mr Pence does not meet the 24-hour deadline, the House will then move to impeach the President.

Section 4 of the 25th Amendment allows the Vice-President and “a majority of either the principal officers of the executive departments or of such body as Congress may by law provide” to transmit a written declaration to the President pro tempore of the Senate and the Speaker of the House that the President is no longer fit to serve.

As of 10:18 am AST, the dollar continues its weakening ways in light of job losses …

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PairsFederal Reserve as of 4 January 2021OANDA as of 4 January 2021OANDA as of 8 January 2021 10:20 am AST
GBP/USD1.36621.36331.35822
USD/CAD1.27531.27261.26927
USD/CNH6.52506.45526.45624
USD/DKK6.08396.06576.05307
EUR/USD1.22301.22641.22875
USD/INR73.010072.936773.2355
USD/MXN19.892019.838219.8122
USD/JPY103.1900103.02103.53
USD/NOK8.57578.53008.42518
USD/SEK8.20958.20918.18760
USD/CHF0.88410.88150.88217
Sources: Federal Reserve, OANDA
RatesFederal Reserve as of 4 January 2021Bloomberg as of 8 January 2021 10:51 am AST
Federal Funds Rate0.090.08
Prime Rate3.253.25
3-month Treasury0.090.08
2-year Treasury0.110.14
10-year Treasury0.931.10
30-year Treasury1.661.87
Source: Bloomberg

Legal/Regulatory/Political Events Impacting Foreign Exchange Markets

An expected dire jobs report

The U.S. Department of Labor today reported that non-farm payroll employment fell by 140,000 jobs in December 2020. The unemployment rate remained at 6.7%, the same rate as reported in December 2020. Significant losses were in the retail and hospitality sectors, according to the Labor Department. Approximately 10.7 million people are out of work.

As of 9:59 an AST, foreign exchange in holding pattern as the United States watches the U.S. senate run-offs in Georgia

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PairsFederal Reserve as of 4 January 2021OANDA as of 4 January 2021OANDA as of 5 January 2021
GBP/USD1.36621.36331.36329
USD/CAD1.27531.27261.27260
USD/CNH6.52506.45526.45524
USD/DKK6.08396.06576.06566
EUR/USD1.22301.22641.22636
USD/INR73.010072.936772.9367
USD/MXN19.892019.838219.8382
USD/JPY103.1900103.02103.02
USD/NOK8.57578.53008.53002
USD/SEK8.20958.20918.20912
USD/CHF0.88410.88150.88150
Board of Governors of the Federal Reserve, OANDA

Regulatory news impacting foreign exchange

None at this time…

11:42 am 12 November 2020, Foreign exchange rates between U.S. and select countries in East Africa, West Africa, the Caribbean, and Asia

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As of 11:42 am EST, 12 November 2020:

How to read the chart:

CAD/USD: If you come to the United States with one Canadian dollar (CAD)and wish to sell it for a US dollar (USD), the market price is .76641 USD.

USD/CAD: If you take a US dollar (USD) to Canada and wish to sell it for a Canadian dollar (CAD), the market price is 1.30461 CAD

CAD/USD=0.76641   USD/CAD=1.30461

CNH/USD= 0.15127   USD/CNH=6.60956

EUR/USD= 1.17895    USD/EUR=0.84811

DKK/USD =0.15834     USD/DKK=6.31400

NGN/USD= 0.00262    USD/NGN=380.460

JPY/USD=0.00949      USD/JPY=105.38

INR/USD=0.01344       USD/INR=74.2553

JMD/USD=0.00673      USD/JMD=145.540

GYD/USD=0.00475       USD/GYD= 207.614

GHS/USD=0.17139       USD/GHS= 5.80752

XCD/USD=0.37037        USD/XCD= 2.70

KES/USD = 0.00909       USD/KES= 107.904

Source: OANDA

Major political/legal event in the United States: 

Federal Reserve Vice-chair Quarles testifies before House Financial Service committee today

Randal K. Quarles, vice-chair for supervision for the Federal Reserve, will testify today before the U.S. House Committee on Financial Services.  His testimony will focus on the Federal Reserve’s supervisory activities in the context of the ongoing pandemic.

The Democratic Party will maintain control of the financial services committee in the next Congress.  There will likely be signals as to where committee chairwoman, U.S. Representative  Maxine Waters, Democrat of California, would like Congress and the Biden administration to focus legislative and regulatory initiatives.

Source: Federal Reserve