Brazilian Real Futures Market News and Commentary
The dollar index (DXY00) on Thursday rose by +0.53%. The dollar Thursday recovered from a 9-1/4 month low and moved moderately higher. The dollar rose Thursday on better-than-expected U.S. economic reports on weekly jobless claims and Q4 nonfarm productivity. Also, dovish comments Thursday from ECB President Lagarde weakened the euro and boosted the dollar.
Thursday’s U.S. economic news was mostly bullish for the dollar. Weekly initial unemployment claims unexpectedly fell -3,000 to a 9-month low of 183,000, showing a stronger labor market than expectations of an increase to 195,000. Also, Q4 nonfarm productivity rose +3.0% q/q, stronger than expectations of +2.4% q/q. Q4 unit labor costs rose +1.1% q/q, weaker than expectations of +1.5% q/q. In addition, Dec factory orders rose +1.8% m/m, the largest increase in 6 months but weaker than expectations of +2.3% m/m.
EUR/USD (^EURUSD) on Thursday fell by -0.75%. The euro Thursday fell back from a 10-month high a... Read more