U.S. Dollar/Canadian Dollar Futures Market News and Commentary
The dollar index (DXY00) on Thursday fell -0.362 (-0.40%). March euro-fx futures (E6H1) closed up +0.0051 (+0.42%), and EUR/USD (^EURUSD) rose +0.0057 (+0.47%). March yen futures (J6H1) closed up +0.02 (+0.02%), and USD/JPY (^USDJPY) fell -0.01 (-0.01%).
The dollar index on Thursday fell to a 1-week low and posted moderate losses. Signs that the ECB may slow its stimulus measures over the coming months sent German bund yields climbing and pushed EUR/USD up to a 1-week high, which weighed on the dollar. USD/JPY fell to a 2-week low and weighed on the dollar as the yen strengthened on better-than-expected Japanese economic data. A rally in most major U.S. stock indexes on Thursday to new record highs also curbed liquidity demand for the dollar.
Thursday's U.S. economic data was bullish for the dollar. U.S. weekly initial unemployment claims fell -26,000 to 900,000, showing a stronger labor market than expectations for a decline to 935,000. Also, Dec... Read more