Australian Dollar Futures Market News and Commentary
The dollar index (DXY00) on Friday rose +0.310 (+0.31%). Jun euro-fx futures (E6M0) closed down -0.0039 (-0.36%), and EUR/USD (^EURUSD) fell -0.0037 (-0.34%). Jun yen futures (J6M0) closed down -0.39 (-0.41%), and USD/JPY (^USDJPY) rose +0.41 (+0.38%).
The dollar index on Friday rose to a 1-week high on weakness in EUR/USD, which dropped to a 1-week low on weaker-than-expected economic data. The dollar fell back from its best levels after U.S. Mar non-farm payrolls fell more than expected.
The dollar index on Friday fell back from its best levels after Friday's U.S. Mar non-farm payrolls fell -701,000, weaker than expectations of -100,000 and the biggest decline in 11 years. Also, the U.S. Mar unemployment rate rose +0.9 to a 3-year high of 4.4%, showing a weaker labor market than expectations of +0.3 to 3.8%. On the positive side for the dollar, U.S. Mar avg hourly earnings rose +0.4% m/m and +3.1% y/y, stronger than expectations of +0.2% m/m and +3.0% y/y. Also, the... Read more