Australian Dollar/U.S. Dollar Futures Market News and Commentary
The dollar index (DXY00) this morning is down -0.106 (-0.12%). September euro-fx futures (E6U1) are up +0.0020 (+0.16%), and EUR/USD (^EURUSD) is up +0.0020 (+0.17%). September yen futures (J6U1) are down -0.0007 (-0.07%), and USD/JPY (^USDJPY) is up +0.012 (+0.11%).
The dollar index (DXY00) this morning is modestly lower. A rally in the Jun E-mini S&P contract to a fresh all-time high in overnight trade has reduced the liquidity demand of the dollar. However, losses in the dollar are limited today by higher T-note yields, with the 10-year T-note yield up +1.2 bp at 1.464%.
The dollar is range-trading ahead of the of the Tue/Wed FOMC meeting, where there is a chance that the FOMC will start discussing when it should begin tapering its $120 billion per month QE program. The consensus is that the FOMC will not make a formal announcement on QE tapering until Q4 or later but the FOMC in the meantime may drop strong hints about the timing of QE tapering.
An easing... Read more