U.S. Dollar Index Futures Market News and Commentary
The dollar index (DXY00) on Friday rose +0.117 (+0.13%). March euro-fx futures (E6H1) closed up +0.0008 (+0.07%), and EUR/USD (^EURUSD) rose +0.0006 (+0.05%). March yen futures (J6H1) closed down -0.30 (-0.31%), and USD/JPY (^USDJPY) rose +0.32 (+0.31%).
The dollar index on Friday moved moderately higher. A slide in U.S. stock indexes on Friday boosted the liquidity demand for the dollar. The dollar maintained its gains on better-than-expected U.S. economic data. EUR/USD climbed to a 1-week high on hawkish ECB comments along with better-than-expected Eurozone manufacturing data. USD/JPY gained as the yen weakened after Japan consumer prices last month fell at the fastest pace in more than 7-1/2 years.
U.S. stock indexes on Friday posted moderate losses, which benefitted liquidity demand for the dollar. Covid concerns undercut stocks Friday after President Biden late Thursday warned that the U.S. faces a "dark winter" as pandemic worsens before it im... Read more