U.S. Dollar Index Sep '17 (DXU17)
U.S. Dollar Index Futures Market News and Commentary
The dollar index (DXY00) on Wednesday rose by +0.05%. The dollar index Wednesday posted modest gains and remained below Tuesday’s 2-1/2 week high. Higher T-note yields Wednesday supported the dollar after the 10-year T-note yield climbed to a 3-1/2 week high. However, the dollar gave up most of its advance Wednesday afternoon on the dovish minutes of the July 26-27 FOMC meeting, where Fed officials said: “it would become appropriate at some point to slow the pace of policy rate increases.”
U.S. retail sales data Wednesday was mixed for the dollar. On the negative side, July retail sales were unchanged m/m, weaker than expectations of +0.1% m/m. However, July retail sales ex-autos unexpectedly rose +0.4% m/m, stronger than expectations for a -0.1% m/m decline.
The July 26-27 FOMC meeting minutes were dovish and negative for the dollar. The minutes stated that "as the stance of monetary policy tightened further, it likely would become appropriate at some point to slo... Read more
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