U.S. Dollar Index Futures Market News and Commentary
The dollar index (DXY00) this morning is down -0.044 (-0.05%). September euro-fx futures (E6U1) are down -0.0009 (-0.07%), and EUR/USD (^EURUSD) is down -0.0006 (-0.05%). September yen futures (J6U1) are up +0.00205 (+0.23%), and USD/JPY (^USDJPY) is down -0.22 (-0.21%).
The dollar index (DXY00) this morning is slightly lower in quiet trade ahead of the outcome of the FOMC meeting early this afternoon. The dollar maintained modest losses on this morning’s weaker-than-expected U.S. data on housing starts and permits.
EUR/USD is modestly lower on dovish ECB comments along with the Ifo Institute’s cut in its German 2021 growth forecast. USD/JPY is moderately lower as a decline in T-note yields strengthens the yen. The yen also garnered some support from strong Japanese trade data for May.
The dollar is treading water ahead of the outcome of the FOMC meeting early this afternoon, where there is a chance that the FOMC will start discussing when it should begin t... Read more