Canadian Dollar Futures Market News and Commentary
The dollar index (DXY00) on Monday rose +0.110 (+0.11%). Jun euro-fx futures (E6M0) closed down -0.0014 (-0.12%), and EUR/USD (^EURUSD) fell -0.0016 (-0.15%). Jun yen futures (J6M0) closed down -0.68 (-0.73%), and USD/JPY (^USDJPY) rose +0.62 (+0.57%).
The dollar index on Monday rose to a fresh 1-week high as a slight easing of coronavirus concerns pushed stocks higher and curbed safe-haven demand for the yen. EUR/USD also fell back as EU countries remain divided on how to combat the economic fallout from the coronavirus pandemic.
Higher T-note yields on Monday also supported the dollar. The 10-year T-note yield rose +7.3 bp to a 3-session high of 0.668% on Monday as stocks rallied on optimism the coronavirus pandemic may be peaking after reported death tolls in some of the world's coronavirus hotspots eased. Confirmed cases of the coronavirus have risen above 1,325,000 globally with deaths exceeding 73,000.
EUR/USD on Monday dropped to a new 1-week low as Euroz... Read more