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Financial Markets Daily Summary - August 1, 2018

Core Content Overview

This document provides a snapshot of the U.S. interest rates, foreign exchange rates, cross currency rates, and forward exchange rates as of August 1, 2018. It highlights the current and historical trends in these financial instruments, offering insights into market conditions and movements.

U.S. Interest Rates

The U.S. interest rates show a gradual increase over the past few weeks, with all terms experiencing a slight upward trend.

• Three-month rate: 2.03% (up from 2.01% a week ago and 1.94% four weeks ago)
• Six-month rate: 2.21% (up from 2.18% and 2.11%)
• Two-year rate: 2.67% (up from 2.65% and 2.52%)
• Three-year rate: 2.76% (up from 2.74% and 2.62%)
• Five-year rate: 2.84% (up from 2.82% and 2.74%)
• 10-year rate: 2.96% (up from 2.95% and 2.86%)
• 30-year rate: 3.08% (stable compared to the previous week, up from 2.99% four weeks ago)

Foreign Exchange Rates

The U.S. dollar (USD) has shown mixed performance against other major currencies on August 1, 2018, with some currencies appreciating and others depreciating.

• USD/CAD: 0.7684 (down from 0.76652 a week ago and 0.76083 four weeks ago)
• USD/EUR: 1.1688 (down from 1.1729 and 1.1656)
• USD/GBP: 1.3137 (down from 1.3189 and 1.3233)
• USD/JPY: 111.875 (up from 110.975 and 110.475)
• USD/MXN: 18.640 (down from 18.668 and 19.450)
• USD/CHF: 0.9914 (down from 0.9919 and 0.9928)
• USD/AUD: 0.7414 (down from 0.7455 and 0.7383)
• USD/CNY: 6.805 (down from 6.7417 and 6.6325)
• USD/NZD: 0.6807 (down from 0.6837 and 0.6762)
• Silver: 15.45 (down from 15.60 and 16.08)
• Gold: 1221.2 (down from 1231.6 and 1257)

Cross Currency Rates

The cross currency rates reflect the relative value of one currency against another, with USD serving as the base.

• CAD: 0.7684 (down from 0.76652 and 0.76083)
• EUR: 1.1688 (down from 1.1729 and 1.1656)
• MXN: 0.05365 (down from 0.0698 and 0.0459)
• JPY: 0.008939 (down from 0.0116 and 0.0076)
• GBP: 1.3137 (down from 1.3189 and 1.3233)
• CHF: 1.008675 (down from 1.3127 and 1.1587)
• AUD: 0.74135 (down from 0.7455 and 0.7383)

Forward Exchange Rates

Forward exchange rates indicate the expected future value of currencies relative to the USD, based on current market conditions and interest rate differentials.

• C$ (Canadian Dollar):

  • Spot: 1.3014
  • One-month: 1.3007
  • Three-month: 1.2993
  • Six-month: 1.2972
  • One-year: 1.2936
  • Two-year: 1.2870
  • Three-year: 1.2819
  • Four-year: 1.2792
  • Five-year: 1.2772

• Euro:

  • Spot: 1.1688
  • One-month: 1.1716
  • Three-month: 1.1772
  • Six-month: 1.1864
  • One-year: 1.2057
  • Two-year: 1.2458
  • Three-year: 1.2832
  • Four-year: 1.3172
  • Five-year: 1.3488

• Yen:

  • Spot: 111.875
  • One-month: 111.6455
  • Three-month: 111.1532
  • Six-month: 110.3173
  • One-year: 108.6170
  • Two-year: 104.9925
  • Three-year: 101.4200
  • Four-year: 97.9792
  • Five-year: 94.7340

• UK Pound:

  • Spot: 1.3137
  • One-month: 1.3154
  • Three-month: 1.3190
  • Six-month: 1.3250
  • One-year: 1.3371
  • Two-year: 1.3612
  • Three-year: 1.3835
  • Four-year: 1.4035
  • Five-year: 1.4221

Key Observations

• Interest Rates: The U.S. interest rates have been rising across all maturities, indicating a tightening monetary policy environment.
• Foreign Exchange: The USD has weakened against the CAD, EUR, and GBP, but has strengthened against the JPY, MXN, and CNY.
• Cross Currency: The USD is weaker against CAD, EUR, and GBP, but stronger against MXN, JPY, and CHF.
• Forward Rates: Forward rates suggest a continued depreciation of the USD against most currencies over the next few years, with the most significant decline expected against the UK pound.

Conclusion

The financial markets on August 1, 2018, reflect a gradual rise in U.S. interest rates and a mixed trend in foreign exchange rates. The USD is experiencing both appreciation and depreciation against different currencies, with the most notable depreciation against the CAD, EUR, and GBP. Forward rates indicate a potential continued weakening of the USD, especially against the UK pound, which may signal future market movements and investor sentiment.