“You cannot escape the responsibility of tomorrow by evading it today.”
August 3, 2021
EUR/USD 1.1869 GBP/USD 1.3900 USD/CAD 1.2551 AUD/USD 0.7376 USD/JPY 108.91 USD/CNH 6.4656 USD/ILS 3.2141 USD/MXN 19.8457 USD/CHF 0.9041 USD/INR 74.285 USD/BRL 5.2512 USD/SGD 1.3519 USD/DKK 6.2663 USD/SEK 8.6037 USD/NOK 8.8245
The dollar is softer again this morning as strong earnings boost equities. Amid the spreading delta variant, Senate Lindsey Graham tested positive for the virus. This all comes as the Senate prepares to pass a $550B infrastructure bill this week. Durable goods and factory orders for June comes at 10 a.m.GBP
Sterling is stronger versus the dollar, helped by declining local covid infections and anticipation of hawkish signals from Thursday’s Bank of England meeting.EUR
The euro climbed higher amid rising 10-year yields, higher equity prices and as virus cases in Europe fall. The pair trade within familiar ranges and eurozone PPI for June rose 1.4% MoM as expected.CAD
The Canadian dollar is weaker versus the greenback amid a decline in WTI prices. The USDCAD cross is quiet this morning following a civic holiday in Canada on Monday.ASIA/PACIFIC
USDJPY fell again this morning amid strong investor demand and as the yen touched two-month highs versus the greenback.
The Aussie leads gainers following the Central Bank’s announcement it will stick with the current tapering plan – instilling confidence the economy will rebound following the latest virus outbreak.
For more analysis on FX markets or information regarding SVB's FX services:
See all of SVB's latest FX information and commentary at www.svb.com/trends-insights/foreign-exchange-advisory
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