Scrap Yellow Brass Idx Futures Market News and Commentary
The dollar index (DXY00) fell from a 10.5-month high on Tuesday and finished down by -0.53%. The dollar retreated on Tuesday after President Trump signaled he is willing to end the war in Iran. Also, Tuesday’s sharp rally in stocks curbed liquidity demand for the dollar. In addition, lower T-note yields on Tuesday have weakened the dollar’s interest-rate differentials. Today’s US economic news was mixed for the dollar after Feb JOLTS job openings and the Mar MNI Chicago PMI fell more than expected, but the Mar consumer confidence index unexpectedly rose.
The US Jan S&P CaseShiller composite-20 home price index rose +1.18% y/y, weaker than expectations of +1.38% y/y and the smallest pace of increase in 2.5 years.
The US Mar MNI Chicago PMI fell -4.9 to 52.8, weaker than expectations of 55.0.
The Conference Board US Mar consumer confidence index unexpectedly rose +0.8 to 91.8, stronger than expectations of a decline to 87.9.
US Feb JOLTS job openings fell -... Read more