Australian Dollar Jun '23 (A6M23)
Australian Dollar Futures Market News and Commentary
The dollar index (DXY00) fell to a 3.5-week low on Wednesday and finished down by -0.46% today.  The dollar retreated on Wednesday with T-note yields after US June producer prices rose less than expected, a dovish factor for Fed policy. Also, the benign CPI report has reduced the chances of a Fed rate hike at the FOMC meeting later this month to 10% from 43% on Monday, further weighing on the dollar. Â
Losses in the dollar were limited amid escalating hostilities in the Middle East that are boosting crude oil prices after US forces launched airstrikes against Iran today for a fifth day. The higher crude prices raise inflation expectations and could prompt the Fed to tighten monetary policy, a supportive factor for the dollar.  Also, the Jul Empire manufacturing survey general business conditions report rose more than expected, a positive factor for the dollar.
US Jun PPI final demand eased to +5.5% y/y from +6.0% y/y, weaker than expectations of +6.2% y/y. Jun PPI ex... Read more
Barchart · 1 hour ago
The dollar index (DXY00 ) fell to a 3.5-week low on Wednesday and finished down by -0.46% today. The dollar retreated on Wednesday with T-note yields...
Barchart · Wed Jul 15, 9:38AM CDT
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