Dollar mixed, European markets closed for Easter Monday, US earnings season to start

The dollar is mixed, as markets across Europe close for Easter Monday. US stocks are set to open lower along with Asian stock markets. Oil prices edged higher after an OPEC+ agreement to cut output. Tomorrow starts Q1 earnings season with the big Wall Street banks. Investors also await key US economic data on the pandemic’s impact. US Congress is under pressure to negotiate an  interim relief package.

Monday: Many stock markets around the world closed for Easter Monday, including in Germany and UK.

Tuesday: JPMorgan and Wells Fargo announce Q1 earnings

Wednesday:US Retail Sales (Mar), US Industrial Production (Mar), US Industrial Production (Mar), US Business Inventories (Feb), NAHB Housing Market Index (Apr)

Thursday: US Housing Starts (Mar)

Friday: US Leading Indicators (Mar), China GDP, Industrial Production, Retail Sales and Jobs data

  • FX Rates
    April 13, 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 is mixed against its peer currencies, as overseas trading was subdued on Easter Monday. Today, US Congress will be under great pressure to agree on an interim rescue package. Releases of Q1 earnings by big commercial and investment banks begins tomorrow.

    GBP
    The UK pound is slightly higher following the release of Prime Minister Boris Johnson from the hospital. The UK stock market is closed for Easter Monday.
    EUR

    The euro is a bit lower, and remains within a $1.09-$1.10 trading range. Many of the key European stock markets are closed for Easter Monday, including Germany and France.

    CAD

    The Canadian dollar weakened slightly, but remains under $1.40. Oil prices are higher by 1.3% to $23.06 a barrel following oil production cuts by OPEC+. Traders await the Bank of Canada interest rate decision on Wednesday. Expectations are that they will keep rates on hold. The BoC last cut its benchmark rate by 50 basis points to 0.25% following an emergency meeting on March 27.

    ASIA/PACIFIC

    The Japanese yen gained by 0.5% as a safe-haven play, as traders remain concerned for a lengthy global economic slowdown.

    The Chinese yuan dipped slightly, but trading was light with China’s Shanghai stock market closed. Key economic data will be released on Friday.

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