.png){kind=logo}
US dollar extends gains following US employment data release
Data showed that the US unemployment rate fell more than expected for the month of August supporting the greenback. Most G-10 currencies weakened on the back of broad USD strength except for the CAD that benefited from Canada's release of better than expected employment data.
-
FX Rates
September 4, 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 1.1799 GBP/USD 1.3208 USD/CAD 1.3119 AUD/USD 0.7243 USD/JPY 106.45 USD/CNH 6.8453 USD/ILS 3.3706 USD/MXN 21.5709 USD/CHF 0.9143 USD/INR 73.1425
-
USDThe greenback was trading largely mixed ahead of US jobs data. The report showed that the unemployment rate fell more than expected supporting the currency.GBPEarlier in the trading session, GBP snapped a two-day decline and reversed losses trading above the 1.33 level. Sterling has since traded lower hovering around the 1.32 level.EUREUR/USD remained largely unchanged holding above key technical level of 1.1780. Following data release out of the US, the common currency failed to hold its ground and dipped to a low of 1.1802.CADThe loonie continues to outperform its peers following reports showing a sharp rise in full-time employment and wage gains. USD/CAD fell as much as 0.4% on the report and is hovering around the 1.31 level.ASIA/PACIFIC
USD/JPY hit but failed to break through the 55-DMA of 106.48 following the US jobs report. The Australian dollar continues to drop, weakening 1.3% so far this week.
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. ©2021 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 and other advisors, and only make investment decisions on the basis of your own objectives, experience and resources. |
