Mexican Peso Futures Market News and Commentary
The dollar index (DXY00) this morning is up by +0.161 (+0.16%). Dec euro-fx futures (E6Z9) are down by -0.0022 (-0.20%), and EUR/USD (^EURUSD) is down by -0.0017 (-0.15%). Dec yen futures (J6Z9) are down by -0.0001 (-0.01%), and USD/JPY (^USDJPY) is unchanged.
The dollar index is stronger today as heightened trade tensions between the U.S. and China undercut the yuan and as deflation concerns and dovish ECB commentary weigh on EUR/USD.
Trade tensions between the U.S. and China increased today, which knocked the yuan down to a 2-1/2 week low of 7.0410 yuan/USD, after the U.S. Senate late Tuesday night passed legislation supporting Hong Kong protesters and warned China against a violent suppression of the demonstrations. China responded by threatening unspecified retaliation if the bill becomes law. The markets are concerned that ongoing trade talks could be threatened because of the Senate bill. The yuan fell further today after the editor of China's Global Times said i... Read more