U.S. Dollar/Swiss Franc Futures Market News and Commentary
The dollar index (DXY00) on Friday fell -0.203 (-0.21%). Dec euro-fx futures (E6Z9) closed up +0.0007 (+0.06%), and EUR/USD (^EURUSD) fell -0.0016 (-0.14%). Dec yen futures (J6Z9) closed up +0.0001 (+0.01%), and USD/JPY (^USDJPY) rose +0.01 (+0.01%).
The dollar index moved lower Friday, but remained above Thursday's 5-1/2 month low, on Friday's news that Nov U.S. retail sales rose by only +0.2% and +0.1% ex autos, weaker than expectations of +0.5% and +0.4% ex autos.
The dollar also saw downward pressure as the Chinese yuan rallied on the new U.S./China trade agreement, while GBP/USD soared after UK Prime Minister Johnson's Conservative party won in a landslide in Thursday's UK election.
The Chinese yuan rose +0.27% Friday and posted a 4-1/2 month high against the dollar after China Vice Commerce Minister Wang Shouwen confirmed that China and the U.S. agreed on the text of a phase one trade deal, which will see the removal of U.S. tariffs on Chinese goods in sta... Read more