New Zealand Dollar Futures Market News and Commentary
The dollar index (DXY00) on Monday fell -0.010 (-0.01%). June euro-fx futures (E6M1) closed up +0.0002 (+0.02%), and EUR/USD (^EURUSD) rose +0.0003 (+0.03%). June yen futures (J6M1) closed up + 0.0019 (+0.21%), and USD/JPY (^USDJPY) fell -0.23 (-0.21%).
The dollar index (DXY00) on Monday moved slightly lower but held above last Thursday’s 2-1/2 week low. Better-than-expected global economic data on Monday boosted the euro and the yen and weighed on the dollar. Losses in the dollar were limited as weak stocks spurred some liquidity demand for the dollar.
Monday’s U.S. economic data was negative for the dollar after the U.S. March monthly budget deficit of -$659.6 billion was wider than expectations of -$658.0 billion and the largest deficit in 9 months.
Comments on Monday from Boston Fed President Rosengren were bearish for the dollar when he said a full recovery might take longer than some expect and that a highly accommodative Fed policy is... Read more