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Markets quiet in holiday-thinned trading

The dollar is mostly unchanged and equity markets edged higher in holiday-thinned trading. Many major overseas markets were closed today. Released at 8:30am EST this morning, Filings for US Jobless Claims for the week ending December 21 fell to a three-week low. Bond yields are slightly higher, oil prices climbed over $61 a barrel and gold moved back above $1,500 an ounce. The first of The 7 Principles of Kwanzaa, a week-long celebration which begins today for African-Americans to reconnect with their African roots and heritage. 

“To strive for and maintain unity in the family, community, nation and race.”

- Dr. Maulana Karenga, activist, author and professor of Africana studies
  • FX Rates
    December 26, 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

    The dollar index was largely unchanged overnight. In a continuation of a risk-on mood in the markets, the dollar did weaken against the Japanese yen. Filings for US unemployment benefits fell to a three-week low, showing a strong job market.


    The UK pound moved higher and is set for a third day of strength. Volatility in the GBPUSD has been relatively high due to low liquidity in  the holiday-thinned market, and remains trading under $1.30. Pound traders remain nervous following the UK election and subsequent comments by PM Boris Johnson.


    The euro edged higher and is trading near $1.11. Volatility is low, and analysts expect nothing significant until the new year.


    The Canadian dollar made slight gains on the back of higher oil prices and amid optimism over an OPEC output reduction deal set to take effect on January 1st.


    The CNY trades quietly around 7.00 per dollar. The Japanese yen was the weakest G10 currency, the risk-on mood reducing demand for the yen as a safe-haven currency.

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About the Author

Scott Petruska is Chief Currency Strategist and senior advisor for Silicon Valley Bank’s global financial services group, and is based in Boston, MA. He advises clients on currency and interest rate hedging strategies, and helps them with other aspects of global banking. He regularly writes blogs on topics covering the global financial markets, conducts client seminars and webinars, and speaks at regional financial conferences.

Petruska has more than 30 years experience in the currency and interest rate markets, and has lived and worked in Boston, Chicago, New York City, Singapore and Tokyo. Prior to joining SVB in 2009, he worked at several large international financial institutions, including National Westminster Bank, Irving Trust, Bank of New York, State Street Bank and Commerce Bank. He has been an institutional trader, product developer, analyst, salesperson and advisor.

Petruska has been awarded several professional designations, including the CFA (Chartered Financial Analyst), FRM (Financial Risk Manager) and CMT (Certified Market Technician). He earned his undergraduate degree in Finance & Banking from the University of Wisconsin.

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