Australian Dollar Futures Market News and Commentary
The dollar index (DXY00) on Thursday fell by -0.58%. Thursday’s main bearish factor for the dollar was a sharp rally in the yen to a 4-month high on speculation that the BOJ might soon exit its ultra-easy monetary policy. Thursday’s rally in stocks also curbed the liquidity demand for the dollar.
Thursday’s U.S. economic news was mixed for Fed policy and the dollar. On the bearish side, Oct wholesale trade sales unexpectedly fell -1.3 % m/m, weaker than expectations of +1.0% m/m and the biggest decline in 7 months. Also, Oct consumer credit rose +$5.134 billion, weaker than expectations of +$8.5 billion. Conversely, weekly continuing unemployment claims fell -64,000 to 1.861 million, showing a stronger labor market than expectations of 1.910 million.
The markets are discounting a 1% chance for a +25 bp rate hike at the next FOMC meeting on Dec 12-13 FOMC and a 0% chance for that +25 bp rate hike at the following FOMC meeting on Jan 30-31, 2024. The markets are then... Read more
- Dollar Slides as the Yen Soars on Possible BOJ Policy Shift
The dollar index (DXY00 ) on Thursday fell by -0.58%. Thursday’s main bearish factor for the dollar was a sharp rally in the yen to a 4-month high on...
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What you need to know… The S&P 500 Index ($SPX ) (SPY ) today is up +0.67%, the Dow Jones Industrials Index ($DOWI ) (DIA ) is up +0.08%, and the Nasdaq...
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The dollar index (DXY00 ) on Wednesday rose by +0.12% and posted a 2-week high. On Wednesday, the dollar recovered from early losses and moved higher after...
- Stocks Mixed as Weak ADP Report Bolsters the Outlook for Fed Rate Cuts
What you need to know… The S&P 500 Index ($SPX ) (SPY ) today is down -0.11%, the Dow Jones Industrials Index ($DOWI ) (DIA ) is up +0.03%, and the Nasdaq...
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- Dollar Gains on Safe-haven Demand from Chinese Debt and a Weak Euro
The dollar index (DXY00 ) on Tuesday finished up by +0.31% and posted a 1-1/2 week high. The dollar found support Tuesday on increased safe-haven demand...