Euro FX Futures Market News and Commentary
The dollar index (DXY00) on Friday rose +0.715 (+0.79%). March euro-fx futures (E6H1) closed down -0.0107 (-0.88%), and EUR/USD (^EURUSD) fell -0.0099 (-0.81%). March yen futures (J6H1) closed down -0.0037 (-0.39%), and USD/JPY (^USDJPY) rose +0.40 (+0.38%).
The dollar index on Friday rallied to a 1-week high. Weakness in EUR/USD and strength in USD/JPY on Friday gave the dollar a boost. EUR/USD fell to a 1-week low after German bund yields were jawboned lower Friday by ECB Executive Board member Schabel. Weakness in the yen is also supportive for the dollar as USD/JPY rose to a 5-3/4 month high Friday on dovish comments from BOJ Governor Kuroda. The dollar extended its gains on Friday's better-than-expected U.S. economic data.
Friday's U.S. economic data was mostly supportive of the dollar. U.S. Jan personal spending rose +2.4% m/m, the biggest increase in 7 months and close to expectations of +2.5% m/m. Also, Jan personal income rose +10.0% m/m o... Read more