Euro Fx/U.S. Dollar Futures Market News and Commentary
The dollar index (DXY00) on Wednesday rose +0.494 (+0.55%). March euro-fx futures (E6H1) closed down -0.0065 (-0.53%), and EUR/USD (^EURUSD) fell -0.0061 (-0.50%). March yen futures (J6H1) closed down -0.0047 (-0.48%), and USD/JPY (^USDJPY) rose (+0.54) (+0.52%).
The dollar index on Wednesday climbed to a 1-week high and posted moderate gains. A sell-off in U.S. stock index futures on Wednesday sparked liquidity demand for the dollar. EUR/USD fell to a 1-week low on Eurozone economic concerns along with push-back on euro strength from an ECB Governing Council member. USD/JPY jumped to a 1-1/2 week high as the yen dropped after Japanese Finance Minister Aso expressed pessimism about the government balancing the budget by 2025.
Wednesday's U.S. economic data was supportive for the dollar after U.S. Dec capital goods new orders nondefense ex-aircraft, a proxy for capital spending, rose +0.6% m/m, slightly stronger than expectations of +0.5% m/m.