Australian Dollar Futures Market News and Commentary
The dollar index (DXY00) on Friday fell -0.030 (-0.03%). Dec euro-fx futures (E6Z0) closed up +0.00130 (+0.11%), and EUR/USD (^EURUSD) rose +0.0002 (+0.02%). Dec yen futures (J6Z0) closed up +0.001300 (+0.14%), and USD/JPY (^USDJPY) fell -0.13 (-0.12%).
The dollar index on Friday dropped to a 1-week low on dovish Fed comments and a wider-than-expected U.S. Q2 current account deficit. The Chinese yuan climbed to a new 16-month high against the dollar Friday on optimism about China's economy. EUR/USD was little changed on dovish ECB comments, and USD/JPY was weaker on yen-positive comments from BOJ Governor Kuroda. The dollar recouped most of its losses Friday after stocks sold off, which boosted liquidity demand for the dollar.
Friday's U.S. economic data was mixed for the dollar. The U.S. Q2 current account deficit exploded to -$170.5 billion, wider than expectations of -$160.0 billion, and the largest current account deficit in 11-1/2 years. Also, Aug leading indicato... Read more