Daily FX Update: Currency moves muted ahead of holiday

Cate Camerota

April 2, 2021

Currency moves muted ahead of holiday.

In light trading, commodity-linked currencies are trading stronger as risk appetite supports optimism of a global recovery. US jobless claims unexpectedly rose last week. Australian and Hong Kong markets are closed for Good Friday. In the US, the stock markets are closed, and the bond and FX markets are open.

"April hath put a spirit of youth in everything."

William Shakespeare

FX Rates
April 2, 2021

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.

EUR/USD 1.1756
GBP/USD 1.3822
USD/CAD 1.2555
AUD/USD 0.7607
USD/JPY 110.70
USD/CNH 6.5757
USD/ILS 3.3290
USD/MXN 20.3110
USD/CHF 0.9423
USD/INR 73.3250
USD/BRL 5.7100
USD/SGD 1.3453
USD/DKK 6.3250
USD/SEK 8.7300
USD/NOK 8.5375
USD
US released data showing the Change in Nonfarm Payrolls was 916k vs. 660k expected, the US dollar remains largely unchanged.
GBP
Sterling remains largely unchanged after finishing its best quarter versus the euro since 2015. The UK pound was supported by the successful vaccine rollout in Britain.
EUR
EUR/USD extends losses hitting fresh lows for the day of 1.1749. The common currency remains under pressure over EU Covid-related lockdowns.
CAD
USD/CAD trading slightly higher following weak jobs data out of the US. Risk appetite associated with hope for global recovery and trading ahead of the holiday weekend has muted the move higher.
ASIA/PACIFIC
USD/JPY remains largely unchanged, and is on track for a gain of around 0.8% for the week. Both the New Zealand Dollar and Australian dollar are trading higher on optimism of a global recovery.

For more analysis on FX markets or information regarding SVB's FX services:

Contact your respective SVB FX Advisor or the SVB FX Advisory Team at fxadvisors@svb.com.
See all of SVB's latest FX information and commentary at www.svb.com/trends-insights/foreign-exchange-advisory

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Source: Bloomberg

This article is intended for U.S. audiences only.

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WRITTEN BY

Cate Camerota

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