Get started with SVB

Are you an innovation company or investor seeking banking services to help you move bold ideas forward, fast?

Let's get started

Existing SVB clients

Get quick answers from our support page.

For help with commercial cards
1.866.553.3481
cardservices@svb.com

For other questions contact Client Service:

1.800.774.7390
clientservice@svb.com

Find a location

Technical or site issue?

Daily
FX Update

Dollar set to have worst week since June

US dollar remains weak following release of disappointing US employment data and as the risk-on rally continues.

"I don't care if Monday's blue. Tuesday's gray and Wednesday too.
Thursday I don't care about you. It's Friday, I'm in love."
The Cure
  • FX Rates
    September 6, 2019

    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

    Dollar lower against its peers following the release of US Non-Farm Payrolls (NFP), which showed a gain of 130,000 jobs vs. expectations of 160,000. Market will focus on Federal Reserve Chairman Powell’s speech later today.

    GBP

    Prime Minister Boris Johnson yet again called for a general election. Sterling is set to gain more than 1% on the week, its best in four months, as it seems Johnson’s plan to move forward with a Brexit on October 31, with or without a deal, is highly unlikely.

    EUR

    EUR/USD remains largely unchanged, trading within weekly range. The market’s focus will be on Federal Reserve Chairman Powell’s speech later today.

    CAD

    Markets were surprised this morning after Canada’s jobs data showed 81,100 jobs added last month vs. the expectation of 20,000. Over the past 12 months, Canada has added 471,300 jobs – the most since 2003. The loonie strengthened almost 0.5% against the US dollar on the news, currently trading below the 1.32 handle.

    ASIA/PACIFIC

    The Japanese yen has been the only G-10 currency to retreat vs. the dollar this week given the risk-on sentiment. Prior to the release of US NFP, the USD/JPY rose to a 107.10 high. The currency pair sold off immediately following the data release which was below expectations.

    The Aussie dollar hit a one-month high following news that the US and China will resume trade talks and US NFP was released below expectations. AUD/USD gained over 1% in the past two days attributed to RBA’s decision to hold rates and the release of GDP data.

Contact Us

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/foreign-exchange

Subscribe to receive the Daily FX Update in your inbox.

By providing your email address and clicking on the Subscribe button below, you consent to receive emails from Silicon Valley Bank for your chosen categories. You also consent to the terms of our Privacy Policy. If you have privacy questions, you may contact us at privacy@svb.com. You can withdraw your consent at any time.

Now Let's Get Started

See how SVB makes next happen now for entrepreneurs like you.

Connect with Us