Euro Fx/U.S. Dollar Futures Market News and Commentary
The dollar index (DXY00) on Monday rose +0.090 (+0.10%). Dec euro-fx futures (E6Z0) closed down -0.0016 (-0.13%), and EUR/USD (^EURUSD) fell -0.0017 (-0.14%). Dec yen futures (J6Z0) closed down -0.0062 (-0.64%), and USD/JPY (^USDJPY) rose +0.64 (+0.62%).
The dollar index on Monday recovered from a 2-1/2 month low and posted modest gains on stronger-than-expected U.S. economic data. The dollar on Monday initially fell to a 2-1/2 month low after Vaccine optimism propelled U.S. stock indexes higher, which curbed the dollar's liquidity demand. EUR/USD fell back from a 2-week high and moved lower after data showed the Eurozone service sector contracted more than expected. USD/JPY recovered from early losses and pushed higher after a rally in stocks reduced the safe-haven demand for the yen.
U.S. stock indexes on Monday rallied on signs of progress on a Covid vaccine and a treatment for the virus. Stocks rallied after Moncef Saoui, head of the U.S. Operati... Read more