Risk appetite improves ahead of US corporate earnings

The US dollar along with other haven assets traded lower as market risk appetite increased ahead of earnings report releases from US corporates. The economic calendar in the US includes a statement regarding the June federal budget along with speakers from the Federal Reserve including John Williams and Robert Kaplan.

Tuesday: US CPI

Wednesday: BoC Rate Decision

Thursday: US Jobless Claims; ECB Main Refinancing Rate; UK Jobless Claims

  • FX Rates
    July 13, 2020

    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 Bloomberg spot index is down 0.1% with the Swedish krona leading gainers amongst G10 currencies. The US dollar is trading lower as investors are optimistic ahead of US corporate earnings reports.

    The British pound hit a high of 1.2666, just four pips lower than Thursday’s high, before falling back towards the 1.26 handle. The UK government, led by Boris Johnson, is launching a campaign to urge businesses to prepare for the end of the Brexit transition period on December 31.

    EUR/USD traded higher hitting a level of 1.1338. Later this week, the European Central Bank is due to meet along with a European Union summit.
    The loonie strengthened against the USD as the dollar fell against its peers. OPEC is set to meet this week and there is speculation that they may announce plans to unwind output cuts. Bank of Canada is set to release a policy decision on Wednesday.

    USD/JPY is largely range-bound trading 0.2% higher after being down 0.1% earlier in the session. The Japanese yen gained traction against the USD after news confirmed China’s sanctions against an US official.

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Cate Camerota
Cate Camerota

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