Euro FX Dec '20 (E6Z20)
Euro FX Futures Market News and Commentary
The dollar index (DXY00) on Monday rose +0.277 (+0.30%). Dec euro-fx futures (E6Z0) closed down -0.0045 (-0.38%), and EUR/USD (^EURUSD) fell -0.0045 (-0.38%). Dec yen futures (J6Z0) closed down -0.0011 (-0.12%), and USD/JPY (^USDJPY) rose +0.13 (+0.12%).
The dollar index on Monday posted moderate gains. A slump in stocks on Monday sparked increased liquidity demand for the dollar. EUR/USD moved lower on rising lockdowns in Europe due to the surge in new Covid infections throughout Europe. USD/JPY moved higher on strength in the dollar, and lower Japanese JGB government bond yields undercut the yen.
Weakness in stocks on Monday boosted liquidity demand for the dollar. A rising Covid infection rate in the U.S. is weighing on stocks on concern the economic recovery will slow. Stocks are also under pressure as U.S. pandemic stimulus talks remain stalled.
The ongoing Covid pandemic is a supportive factor for the dollar since it undercuts stocks and boosts the dollar'... Read more
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