Currencies confined to narrow range ahead of Thanksgiving holiday

Currencies confined to narrow range ahead of Thanksgiving holiday

Currency markets are quiet and trading in lighter volumes ahead of the Thanksgiving holiday. US data released today did little to impact markets as currencies appear to be driven by month-end flows.

"Give thanks for a little, and you will find a lot."
Hausa Proverb
  • FX Rates
    November 25, 2020

    Rates are not real time. Rates are today's indicative mid-market rates as of time of publishing, which may vary. Please contact SVB for a current quote.

  • USD

    The US dollar dropped slightly following durable goods and jobless claims data that indicated the US economy is on the mend. After the Dow surpassed 30,000 yesterday, US equity futures are pointing to a slight decrease at the open. US data due includes weekly job loss claims, trade balance, wholesale inventories, goods orders, new home sales and University of Michigan sentiment.

    The pound trimmed earlier losses following comments from UK Chancellor Sunak that indicated the UK economy could shrink 11.35% in 2020.  The pound is down 0.1% on the day.
    The euro trimmed some gains after surpassing 1.1930 – the highest level since early September - and remains rangebound.
    The Canadian dollar gave back some ground to the greenback after touching two-week highs early in the week. The pair remains below the 21-DMA as month-end rebalance models favor the greenback.
    The Japanese yen is mostly unchanged in light trading ahead of the US holiday. Virus outbreaks in Japan are top of mind, and Economy Minister Yasutoshi Nishimura told reporters the next three weeks are critical for controlling the virus.
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Kathryn Garvey
Kathryn Garvey

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