Euro FX Dec '27 (E6Z27)
Euro FX Futures Market News and Commentary
The dollar index (DXY00) climbed to a 13-month high on Tuesday and finished up by +0.36%. The dollar rallied on Tuesday's plunge in equity markets, boosting liquidity demand for the currency. The dollar also has carryover support from last Wednesday, when the FOMC projected higher interest rates later this year.  Tuesday's US economic news was mixed for the dollar as the Jun S&P manufacturing PMI unexpectedly increased, but the Jun Richmond Fed manufacturing survey of current conditions fell more than expected.
The US Jun S&P manufacturing PMI unexpectedly rose +0.6 to 55.7, stronger than expectations of a decline to 54.6 and the strongest pace of expansion in 4 years.
The US Jun Richmond Fed manufacturing survey of current conditions fell -9 to 4, weaker than the 8 expected.
The swaps markets are discounting the odds at 36% for a +25 bp rate cut hike at the next FOMC meeting on July 28-29.
EUR/USD (^EURUSD) tumbled to a 1-year low on Tuesday and finished d... Read more
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