Equity markets react to US jobs data, dollar eases

Kathryn Garvey

April 5, 2021

Equity markets react to US jobs data, dollar eases

Markets are quiet following the Easter holiday and global equity markets are positioned to rise in reaction to Friday’s US jobs report. The US economy added more jobs than expected, and equity markets will react this morning as they were closed on Friday. The dollar eased slightly versus peers.

Economic Calendar

Monday: US Durable Goods

Wednesday: Japan BoP Current Account Balance, US Trade Balance

Thursday: US Jobless Claims, GE Factory Orders, FR Markit Services PMI

Friday: GE Industrial Production, CA Unemployment, US PPI

FX Rates
April 5, 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 1.1783
GBP/USD 1.3884
USD/CAD 1.2534
AUD/USD 0.7636
USD/JPY 110.44
USD/CNH 6.5712
USD/ILS 3.3156
USD/MXN 20.2552
USD/CHF 0.9401
USD/INR 73.3038
USD/BRL 5.6473
USD/SGD 1.3432
USD/DKK 6.3143
USD/SEK 8.7347
USD/NOK 8.5305
USD
The dollar eased slightly versus G-10 peers as risk sentiment improved following Friday’s blowout job numbers. Trading volumes are muted following the Easter holiday. The Biden administration continues to try to rally public support for the $2.25T infrastructure plan.
GBP
The pound rose to the highest level in two weeks following PM’s comments on reopening the economy following lockdown.
EUR
European markets are quiet as many businesses remain closed the Monday after Easter. The euro is little changed as lockdown concerns cap rallies.
CAD
The Canadian dollar advanced versus the US dollar as equity markets follow a risk-on tone. Traders await March jobs data due out this week.
ASIA/PACIFIC
The Japanese yen improved slightly on exporter selling. The pair sits above the 50, 100, and 200 DMA.

China, Hong Kong and Taiwan markets are closed today.

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

Kathryn Garvey

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