The dollar is little changed overnight amid light trading volumes given the year-end and holiday week. US equities are opening at all-time highs.
"Go confidently in the direction of your dreams."
December 28, 2021
EUR/USD 1.1298 GBP/USD 1.3435 USD/CAD 1.2807 AUD/USD 0.7238 USD/JPY 114.86 USD/CNH 6.3732 USD/ILS 3.0998 USD/MXN 20.5760 USD/CHF 0.9186 USD/INR 74.6600 USD/BRL 5.6370 USD/SGD 1.3550 USD/DKK 6.5840 USD/SEK 9.0740 USD/NOK 8.8080
The US dollar is slightly higher on the back of the S&P index opening at an all-time high. US Treasury 10Yr yield edged lower to 1.46%. The FHFA US House Price Index for October was higher than expected.GBP
UK remains closed Tuesday for Boxing Day. COVID cases remain high in the UK and will likely increase over the next few weeks due to holiday gatherings. UK pound rate climbed to a five-week high overnight crossing trading north of 1.3450.EUR
With no central bank policy events or major economic figures due in the holiday week ahead, euro trading volumes continuing to remain low. EUR/USD levels are slightly higher due continued research showing that Omicron is less severe than Delta, which may minimize economic headwinds in the eurozone.CAD
USD/CAD is stable despite firm oil prices. Canada remains on holiday today, so trading is expected to remain light.ASIA/PACIFIC
News that the Omicron variant's symptoms may be less severe than the delta variant is leading to increased demand for riskier currencies, including the AUD.
USD/JPY rates remain stable overnight as Japan reported a record jump in factory output in November, mostly due to car production.
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
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 Notice. If you have privacy questions, you may contact us at PrivacyOffice@svb.com. You can withdraw your consent at any time.
Thank you for subscribing to SVB's Daily FX Update.
You're almost done. Please check your email box and follow the instructions to confirm your subscription. If you did not receive an email please check your Spam or Bulk E-Mail folder just in case the confirmation email got delivered there instead of your inbox. If so, select the confirmation message and mark it Not Spam, which should allow future messages to get through. Please add us to your trusted list of senders, contacts or address book.
Please note that we will continue to send you communications that we need to send you (for example, to keep you updated on operational changes to your account, a product or a service) or that we are required to send you by law.
This article is intended for U.S. audiences only.
©2022 SVB Financial Group. All rights reserved. Silicon Valley Bank is a member of the FDIC and the Federal Reserve System. Silicon Valley Bank is the California bank subsidiary of SVB Financial Group (Nasdaq: SIVB). SVB, SVB FINANCIAL GROUP, SILICON VALLEY BANK, MAKE NEXT HAPPEN NOW and the chevron device are trademarks of SVB Financial Group, used under license.
The views expressed in this email are solely those of the author and do not reflect the views of SVB Financial Group, or Silicon Valley Bank, or any of its affiliates. This material, including without limitation the statistical information herein, is provided for informational purposes only. The material is based in part upon information from third-party sources that we believe to be reliable, but which has not been independently verified by us and, as such, we do not represent that the information is accurate or complete. The information should not be viewed as tax, investment, legal or other advice nor is it to be relied on in making an investment or other decisions. You should obtain relevant and specific professional advice before making any investment decision. Nothing relating to the material should be construed as a solicitation or offer, or recommendation, to acquire or dispose of any investment or to engage in any other transaction.
Foreign exchange transactions can be highly risky, and losses may occur in short periods of time if there is an adverse movement of exchange rates. Exchange rates can be highly volatile and are impacted by numerous economic, political and social factors, as well as supply and demand and governmental intervention, control and adjustments. Investments in financial instruments carry significant risk, including the possible loss of the principal amount invested. Before entering any foreign exchange transaction, you should obtain advice from your own tax, financial, legal, accounting and other advisors, and only make investment decisions on the basis of your own objectives, experience and resources.