Canadian Dollar Dec '20 (D6Z20)
Canadian Dollar Futures Market News and Commentary
The dollar index (DXY00) on Wednesday was unchanged. March euro-fx futures (E6H1) closed down -0.0019 (-0.16%), and EUR/USD (^EURUSD) fell -0.0024 (-0.20%). March yen futures (J6H1) closed up +0.31 (+0.32%), and USD/JPY (^USDJPY) fell -0.37 (-0.36%).
The dollar index on Wednesday was little changed. Slightly lower T-note yields Wednesday weighed on the dollar, as did weaker-than-expected U.S. economic data. The dollar did find support on the increase in inflation expectations, which is hawkish for Fed policy, after the 10-year T-note breakeven inflation rate rose to a 2-1/4 year high Wednesday of 2.129%, above the Fed's 2% inflation target. A rally in U.S. stock indexes on Wednesday curbed the liquidity demand for the dollar.
Wednesday's U.S. economic data was negative for the dollar after the Jan NAHB housing market index unexpectedly fell -3 to a 4-month low of 83, weaker than expectations of unchanged at 86.
The ongoing Covid pandemic... Read more
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