Euro Fx/U.S. Dollar Futures Market News and Commentary
The dollar index (DXY00) today is up +0.28 (+0.29%). Dec euro-fx futures (E6Z9) are down -0.00375 (-0.34%), and EUR/USD (^EURUSD) is down -0.00413 (-0.37%). Dec yen futures (J6Z9) are down -0.00075 (-0.08%), and USD/JPY (^USDJPY) is up +0.063 (+0.06%).
The dollar index early today edged to a new 1-month low but then rallied moderately due to the strong U.S. payroll report. The dollar is also seeing some short-covering after the fairly sharp sell-off seen this week from last Friday's 7-week high.
The dollar index is seeing support from today's strong Nov U.S. unemployment report. November U.S. payrolls rose sharply by +266,000, which was much stronger than market expectations of +180,000. In addition, Oct payrolls were revised higher by +28,000 to +156,000 from +128,000. The Nov payroll report was artificially inflated by the return to the labor market of 41,300 striking GM workers, but the payroll report ex-GM was still much stronger than expected at +225,000, suggesti... Read more