Mexican Peso Futures Market News and Commentary
The dollar index (DXY00) this morning is up +0.734 (+0.75%). Jun euro-fx futures (E6M0) is down -0.0097 (-0.87%), and EUR/USD (^EURUSD) is down -0.0110 (-0.99%). Jun yen futures (J6M0) are down -0.25 (-0.26%), and USD/JPY (^USDJPY) is up +0.20 (+0.19%).
The dollar index this morning is moving higher on weakness in EUR/USD, which fell on European economic concerns. Also, the Chinese yuan is weaker against the dollar after the PBOC added liquidity into the banking system.
The dollar has support today from dollar liquidity demand on expectations the U.S. economy will be locked down longer than earlier expected. President Trump on Sunday said he will heed advice from doctors and not try to restart U.S. activity by Easter weekend and instead said that Americans will need to practice "social distancing" until at least April 30.
A -6% plunge in crude oil this morning has also weakened the crude-export currencies of Canada, Mexico and Russia against the dollar. The upsi... Read more