British Pound Futures Market News and Commentary
The dollar index (DXY00) on Thursday fell by -0.358 (-0.34%). The dollar Thursday erased early gains and retreated from a 2-week high. A fall in T-note yields Thursday weighed on the dollar after the 10-year T-note yield dropped to a 3-week low of 2.269%. Economic concerns also weighed on the dollar after data showed U.S. May personal spending rose less than expected, and the Jun MNI Chicago PMI fell to a 1-3/4 year low. The dollar Thursday morning initially rallied to a 2-week high after a stock slump boosted liquidity demand for the dollar.
U.S. weekly initial unemployment claims fell -2,000 to 231,000, close to expectations of 230,000.
U.S. May personal spending rose +0.2% m/m, weaker than expectations of +0.4% m/m. May personal income rose +0.5% m/m, right on expectations.
The U.S. May PCE core deflator rose +0.3% m/m and +4.7% y/y, a slower pace of increase than expectations of +0.4% m/m and +4.8% y/y.
The U.S. Jun MNI Chicago PMI fell -4.3 to a 1-... Read more