Canadian Dollar Futures Market News and Commentary
The dollar index (DXY00) on Friday fell by -0.167 (-0.16%). The dollar index Friday dropped to a 1-month low as a rally in stocks curbed liquidity demand for the dollar. U.S economic data Friday was mixed, but the dollar remained moderately lower after the final University of Michigan U.S. May consumer sentiment was unexpectedly revised downward to a 10-3/4 year low of 58.4.
U.S. Apr personal spending rose +0.9% m/m, stronger than expectations of +0.8% m/m and March personal spending was revised upward to +1.4% m/m from+1.1% m/m.
U.S. Apr personal income rose +0.4% m/m, weaker than expectations of +0.5% m/m.
U.S. Apr PCE core deflator rose +0.3% m/m and +4.9% y/y, right on expectations, with the +4.9% y/y gain the slowest pace of increase in 4 months.
The University of Michigan U.S. May consumer sentiment was unexpectedly revised downward to a 10-3/4 year low of 58.4 from the previously reported 59.1.
EUR/USD (^EURUSD) on Friday rose by +0.0006 (+0.06... Read more