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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.

August 18, 2022

bar graph shows overnight changes in major currencies around the world


United States (U.S.): Leading Economic Index Declines for Fifth Straight Month in July; Weekly Jobless Claims Edge Down to 250,000

A report released by the Conference Board showed a continued decrease in its reading on leading U.S. economic indicators in July. The Conference Board said its leading economic index fell by 0.4% in July, following a 0.7% decrease in June. Despite the decline in the headline index, the report showed that the coincident economic index rose by 0.3% in July after increasing by 0.1% in June. The lagging economic index also increased by 0.4% in July, following a 0.7% advance in the previous month. 08/18/2022 - 10:45:00 (RTTNews)

A report released by the Labor Department unexpectedly showed a modest pullback in first-time claims for U.S. unemployment benefits on August 13th. The Labor Department said initial jobless claims edged to 250,000, a decrease of 2,000 from the previous week's level of 252,000. The report showed that the less volatile four-week moving average also dipped to 246,750, a decrease of 2,750 from last week's revised average of 249,500. 08/18/2022 - 08:37:00 (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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