Euro FX Futures Market News and Commentary
The dollar index (DXY00) on Thursday rose +0.075 (+0.08%). Sep euro-fx futures (E6U0) closed down -0.0018 (-0.16%), and EUR/USD (^EURUSD) fell -0.0014 (-0.12%). Sep yen futures (J6U0) closed down -0.09 (-0.10%), and USD/JPY (^USDJPY) rose +0.08 (+0.07%).
The dollar index on Thursday recovered from a 1-week low and moved higher after U.S. Jun non-farm payrolls rose more than expected. The dollar also saw strength on pandemic concerns and weakness in EUR/USD tied to weak Eurozone inflation pressures.
U.S. stock indexes on Thursday moved higher and curbed dollar demand on a stronger-than-expected U.S payroll report. U.S. Jun non-farm payrolls rose +4.8 million, stronger than expectations of +3.23 million, and the largest increase since the data began in 1939. Also, the Jun unemployment rate fell by -2.2 points to 11.1%, showing a stronger labor market than expectations for a decline to 12.5%. U.S. Jun average hourly earnings fell -1.2% m/m, weaker than expectations of -1.... Read more