Markets are nervous and shaky as Germany and the US plan new restrictions as the Omicron variant spreads and ahead of tomorrow’s US jobs data for November. Asian equities were mixed, European equities are lower, and the US is opening up small. The dollar is mixed against its peers and global bond yields are generally lower. Oil and gold are little changed.
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FX Rates
December 2, 2021Rates 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 1.1347 GBP/USD 1.3316 USD/CAD 1.2814 AUD/USD 0.7100 USD/JPY 112.88 USD/CNH 6.3739 USD/ILS 3.1630 USD/MXN 21.2579 USD/CHF 0.9188 USD/INR 74.9913 USD/BRL 5.6337 USD/SGD 1.3671 USD/DKK 6.5562 USD/SEK 9.0319 USD/NOK 9.0908
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USD
The dollar is mixed against its peers. The euro-heavy dollar index is slightly lower, continuing a five-day downtrend, but lower by only 1% from last week’s 17-month high. This morning’s Initial Jobless Claims and Continuing Claim for the week ending November 27 were both lower than expected. Traders are focused on tomorrow’s release of Nonfarm Payrolls for November. According to a Bloomberg survey, expectations are +546K, slightly higher than the prior 531K.
GBPThe pound is higher by only 0.22% but looks poised to reverse a ten-day decline. There were no UK economic data releases today.
EURThe euro gained on surprisingly high inflation data for October – PPI MoM of 5.4% was higher than 3.8% expected, PPI YoY of 21.9% was higher than 19% expected. Unemployment was unchanged at 7.3%.
CADThe loonie is slightly weaker on the back of this morning's OPEC news that members will be hiking production output in January. Oil prices are falling as we write.ASIA/PACIFICUSD/JPY continues to trade below 113.00, and not far from Tuesday’s two-month lows of 112.53. The yen has benefited from its safe haven role with the recent equity volatility and Omicron uncertainty.
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/foreign-exchange-advisory
| Source: Bloomberg | |
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