U.S. Dollar Index Futures Market News and Commentary
The dollar index (DXY00) this morning is up +0.174 (+0.16%). Sep euro-fx futures (E6U0) are down -0.0020 (-0.18%), and EUR/USD (^EURUSD) is down -0.0017 (-0.14%). Sep yen futures (J6U0) are down -0.31 (-0.33%), and USD/JPY (^USDJPY) is up +0.31 (+0.30%).
The dollar index this morning is moderately higher as a slump in stocks boosts liquidity demand for dollars. Also, EUR/USD retreated after the German May industrial production report was weaker than expected and after the European Commission cut its Eurozone 2020 growth projections.
U.S. and European equity markets are weaker today on concern the recovery from the coronavirus pandemic may take longer than expected. Atlanta Fed President Bostic in a Financial Times interview today said, "the trajectory of this recovery is going to be a bit bumpier than it might otherwise" amid a resurgence in coronavirus cases. Confirmed cases of the virus have risen above 11.77 million globally, with deaths exceeding 541,000.
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