U.S. Dollar/Canadian Dollar Futures Market News and Commentary
The dollar index (DXY00) on Monday fell -0.124 (-0.13%). EUR/USD (^EURUSD) rose +0.0003 (+0.03%). USD/JPY (^USDJPY) fell -0.45 (-0.41%). The dollar index on Monday posted modest losses. A decline in the 10-year T-note yield to a 1-1/2 week low Monday of 1.148% weakened the dollar’s interest rate differentials and weighed on the dollar. The dollar maintained moderate losses on weaker-than-expected U.S. economic data.
EUR/USD (^EURUSD) on Monday moved slightly higher on Eurozone economic optimism. The Eurozone July manufacturing PMI was revised upward by +0.2 to 62.8 from the previously-reported 62.6, and German June retail sales rose +4.2% m/m, stronger than expectations of +2.0% m/m. Gains in EUR/USD were limited after the 10-year German bund yield fell to a 6-month low of -0.487% on Monday. USD/JPY (^USDJPY) on Monday fell moderately to a 2-week low. The yen saw support after the Japan July consumer confidence index unexpectedly rose +0.1 to a 17-month high of 37.5,... Read more