Euro FX Dec '15 (E6Z15)
Euro FX Futures Market News and Commentary
The dollar index (DXY00) on Monday fell by -0.01%.  The dollar erased early gains on Monday and posted modest losses on negative carryover from last Friday’s weaker-than-expected US June payroll report, which reduced the chances of the Fed tightening monetary policy, a negative factor for the dollar.
The dollar initially moved higher on Monday following the as-expected June ISM services index report. The dollar also found support amid yen weakness after Japanese authorities failed to intervene in the forex market to support the yen while US markets were closed last Friday for a holiday, a previous prime time for Japan’s intervention.Â
The US Jun ISM services index fell -0.5 to 54.0, right on expectations. The Jun ISM services price-paid sub-index eased to 67.7 from 71.3 in May, stronger than the 67.5 expected.
The swaps markets are discounting the odds at 25% for a +25 bp rate hike at the next FOMC meeting on July 28-29.
EUR/USD (^EURUSD) on Monday rose by +... Read more
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