Mexican Peso Futures Market News and Commentary
The dollar index (DXY00) on Tuesday rose +0.179 (+0.19%). Sep euro-fx futures (E6U0) closed down -0.0030 (-0.26%), and EUR/USD (^EURUSD) fell -0.0028 (-0.25%). Sep yen futures (J6U0) closed down -0.20 (-0.22%), and USD/JPY (^USDJPY) rose +0.19 (+0.18%).
The dollar index on Tuesday posted moderate gains as a slump in stocks boosted liquidity demand for dollars. Also, EUR/USD retreated after the German May industrial production report was weaker than expected and after the European Commission cut its Eurozone 2020 growth projections.
U.S. and European equity markets were weaker Tuesday on concern the recovery from the coronavirus pandemic may take longer than expected. Atlanta Fed President Bostic, in a Financial Times interview on Tuesday, said, "the trajectory of this recovery is going to be a bit bumpier than it might otherwise" amid a resurgence in coronavirus cases. Confirmed cases of the virus have risen above 11.77 million globally, with deaths exceeding 541,000.<... Read more