U.S. Dollar/Japanese Yen Futures Market News and Commentary
The dollar index (DXY00) on Thursday rose +0.351 (+0.38%). Dec euro-fx futures (E6Z0) are down -0.0031 (-0.26%), and EUR/USD (^EURUSD) fell -0.0044 (-0.37%). Dec yen futures (J6Z0) are down -0.0001 (-0.01%), and USD/JPY (^USDJPY) rose +0.31 (+0.30%).
The dollar index on Thursday posted moderate gains on strong U.S. economic data and on doubts on the prospects for a U.S. pandemic stimulus deal. EUR/USD fell on dollar strength and rising Covid infection rates in Europe. USD/JPY rose on reduced safe-haven demand for the yen after stocks rallied.
Thursday's U.S. economic data was supportive of the dollar. U.S. weekly initial unemployment claims fell -55,000 to 787,000, showing a stronger labor market than expectations of 870,000. Also, Sep existing home sales rose +9.4% to a 14-1/4 year high of 6.54 million, stronger than expectations of 6.30 million. In addition, Sep leading indicators rose +0.7% m/m, stronger than expectations of +0.6% m/m.
Another positive factor... Read more