U.S. Dollar Index Futures Market News and Commentary
The dollar index (DXY00) on Friday rose +0.309 (+0.34%). EUR/USD (^EURUSD) fell -0.0030 (-0.25%). USD/JPY (^USDJPY) rose +0.28 (+0.26%). The dollar index on Friday recovered from a 1-month low and posted moderate gains. Weakness in stocks on Friday boosted the liquidity demand for the dollar. Also, better-than-expected U.S. economic data on Friday supported gains in the dollar.
EUR/USD (^EURUSD) on Friday fell back from a 1-month high and posted moderate losses. Dollar strength on Friday weighed on EUR/USD along with lower German bund yields. EUR/USD early Friday initially climbed to a 1-month high after Eurozone Q2 GDP rose +2.0% q/q and +13.7% y/y, stronger than expectations of +1.5% q/q and +13.2% y/y. Also, signs of faster price pressures in the Eurozone are hawkish for ECB policy and positive for the euro after Eurozone Jul CPI rose +2.2% y/y, stronger than expectations of +2.0% y/y and the fastest pace of increase in 2-3/4 years. USD/JPY (^USDJPY) rose moderat... Read more