Australian Dollar Futures Market News and Commentary
The dollar index (DXY00) on Thursday fell by -1.100 (-1.06%). The dollar index Thursday tumbled to a 2-week low and posted moderate losses on lower T-note yields and weaker-than-expected U.S. economic data.
Kansas City Fed President George said inflation is too high, and the Fed needs to bring that down. She said she is "very comfortable" with the Fed raising interest rates by 50 bp. That comment was considered dovish since she did not mention a 75 bp rate hike.
U.S. weekly initial unemployment claims unexpectedly rose +21,000 to a 3-1/2 month high of 218,000, showing a weaker labor market than expectations of a decline to 200,000.
The U.S. May Philadelphia Fed business outlook survey fell -15.0 to a 2-year low of 2.6, weaker than expectations of 15.0.
U.S. Apr existing home sales fell -2.4% m/m to a 1-3/4 year low of 5.61 million, weaker than expectations of 5.64 million.
U.S. Apr leading indicators unexpectedly fell -0.3% m/m, weaker than expectatio... Read more