.png){kind=logo}
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.
-
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
-
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/trends-insights/foreign-exchange-advisory
Subscribe to receive the Daily FX Update in your inbox.
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.
| Source: Bloomberg | |
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. |
