.png){kind=logo}
Markets quiet, dollar lower, stocks holding near record highs
In quiet end-of-year trading, the dollar is lower, mostly against the Australian dollar, which climbed to fresh 2 ½ year highs. Stocks are holding near record highs amid year-end USD funding needs which were not under pressure. US Initial Jobless Claims were better than expected this morning. US Treasuries, oil and gold are all little changed overnight. Markets in Japan, Germany, and S. Korea were closed today, and most stock markets around the world will be closed tomorrow for New Year’s Day.
-
FX Rates
December 31, 2020Rates 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 1.227 GBP/USD 1.3645 USD/CAD 1.2718 AUD/USD 0.7736 USD/JPY 103.07 USD/CNH 6.5034 USD/ILS 3.2152 USD/MXN 19.8706 USD/CHF 0.8802 USD/INR 73.0700
-
USD
The dollar is ending the year lower and within a well-entrenched downtrend which began March 20 of this year. Year-end funding needs was not unusual this time around, meaning no excessive demand for the dollar. US jobless claims data came in better than expected. Markets are closed tomorrow.
GBPThe UK pound edged higher, reaching $1.3686, its highest level since May 2018. It is ending the year up 3.0%, lagging most other G-10 currencies. After UK Parliament approved the UK-EU post-Brexit deal yesterday, tonight at 11pm London time Britain formally exits the European Union’s trading bloc.
EURThe euro fell slightly overnight as the Stoxx Europe 600 Index fell 0.4%.
CADThe Canadian dollar gained 0.3% overnight, in line with broad US dollar weakness and ahead of next week’s OPEC+ meeting. No economic data for Canada was reported today.
ASIA/PACIFICThe Chinese yuan dropped in value overnight, leading to an outperformance of Chinese stocks.
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