Euro FX Futures Market News and Commentary
The dollar index (DXY00) this morning is down -0.466 (-0.51%). Dec euro-fx futures (E6Z0) are up +0.0061 (+0.50%), and EUR/USD (^EURUSD) is up +0.0038 (+0.31%). Dec yen futures (J6Z0) is up +0.0059 (+0.62%), and USD/JPY (^USDJPY) is down -0.52 (-0.50%).
The dollar index this morning added to this week's losses and posted a new 2-1/2 year low. The dollar is seeing reduced liquidity demand with today's higher trade in stocks. EUR/USD rallied to a fresh 2-1/2 year high on stronger-than-expected Eurozone economic data. USD/JPY is moderately lower as the yen strengthened on a report that said the BOJ would likely extend its special funding program.
U.S. stock indexes this morning remain firm and are pressuring the dollar on optimism U.S. lawmakers will pass a pandemic relief package. Prospects improved for passage of a plan after House Speaker Pelosi endorsed a bipartisan $908 billion stimulus package. The dollar is also under pressure on expectations th... Read more