Weak demand for USD amid upbeat market mood

Weak demand for USD amid upbeat market mood

The dollar is mostly lower amid stronger equities and solid economic data reported out of Europe on Friday. Light trading overall today as Chinese, Japanese and UK markets celebrate May holidays.

This week's economic data:

Monday: FR Markit Manufacturing, US ISM Manufacturing

Tuesday: US Durable Goods, UK Markit PMI

Wednesday: US Mortgage Applications, GE Factory Orders

Thursday: BOE Bank Rate, US Jobless Claims

Friday: US & Canada Unemployment Rate

  • FX Rates
    May 3, 2021

    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 is lower versus G-10 peers as risk tone improves. Data out today includes US PMI for April, ISM Manufacturing and Construction spending. Fed Chair Powell will also speak on community development.


    The pound leads gainers today reversing and recovering nearly all ground lost to the dollar on Friday as US yields ease.


    The euro ticked up 0.2% following eurozone manufacturing data that rose to the highest level in 20 years.

    USD/CAD edged lower and trades within a narrow range hovering near 2018 lows. Markets remain focused on key data this week including unemployment numbers for both Canada and the US Friday.

    The USD/JPY cross reached one month highs on Monday snapping a three week losing streak.

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Kathryn Garvey
Kathryn Garvey

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