Brazilian Real Futures Market News and Commentary
The dollar index (DXY00) on Tuesday fell -0.396 (-0.42%). Dec euro-fx futures (E6Z0) closed up +0.0073 (+0.62%), and EUR/USD (^EURUSD) rose +0.0073 (+0.63%). Dec yen futures (J6Z0) closed down -0.0015 (-0.16%), and USD/JPY (^USDJPY) rose +0.19 (+0.18%).
The dollar index on Tuesday moved lower for a second day on concern that Congress will not be able to pass a new stimulus bill ahead of the November 3 election, which would be negative for the U.S. economy. EUR/USD pushed higher after Eurozone economic confidence rose for a fifth month in September. USD/JPY rallied as the yen weakened after minutes of the Sep BOJ policy meeting showed a policy said the BOJ should reconsider its policy strategy with inflation well below the BOJ's 2% target.
House Democrats on Monday night released a new scaled-back $2.2 trillion Covid relief package proposal. House Speaker Pelosi and Treasury Secretary Mnuchin spoke Tuesday about the relief package and plan to speak again on Wednesday. A... Read more