Mexican Peso Futures Market News and Commentary
The dollar index (DXY00) this morning is down -0.194 (-0.21%). Dec euro-fx futures (E6Z0) are up +0.0040 (+0.33%), and EUR/USD (^EURUSD) is up +0.0054 (+0.45%). Dec yen futures (J6Z0) is down -0.0008 (-0.08%), and USD/JPY (^USDJPY) is up +0.09 (+0.09%).
The dollar index this morning is moderately lower but remains above Monday's 2-1/2 year low. A sharp rally in global stock indexes has reduced the liquidity demand for the dollar. EUR/USD is moderately higher on strength in Eurozone economic data along with higher German bund yields. USD/JPY is moving higher as strength in world stock markets has curbed the safe-haven demand for the yen.
U.S. stock indexes are following global stock markets higher today and are weighing on the dollar. Expectations that Covid vaccines will soon be deployed has bolstered optimism in the economic outlook. China's Shanghai Composite climbed to a 4-1/2 month high today and Japan's Nikkei Stock Index soared to a 29-1/2 yea... Read more