Canadian Dollar Futures Market News and Commentary
The dollar index (DXY00) on Tuesday moved up by +0.050 (+0.05%). Dec euro-fx futures (E6Z9) closed up by +0.0003 (+0.02%), and EUR/USD (^EURUSD) rose by +0.0007 (+0.06%). Dec yen futures (J6Z9) closed up by +0.0009 (+0.10%), and USD/JPY (^USDJPY) fell by -0.12 (-0.11%).
The dollar index moved slightly higher Tuesday on upbeat comments from New York Fed President Williams along with an unexpected increase in U.S. Oct building permits to a 12-1/4 year high.
Comments on Tuesday from New York Fed President Williams (voter) were dollar-positive when he said the Fed's three rate cuts this year have shifted monetary policy into a "good place" to sustain economic growth.
Tuesday's U.S. housing data was mixed for the dollar as Oct housing starts rose +3.8% to 1.314 million, weaker than expectations of +5.1% to 1.320 million. However, Oct building permits, a proxy for future construction, were dollar friendly as they unexpectedly rose +5.0% to a 12-1/4 year high of 1.461... Read more