New Zealand Dollar Futures Market News and Commentary
The dollar index (DXY00) on Wednesday fell -0.435 (-0.45%). Sep euro-fx futures (E6U0) closed up +0.0050 (+0.44%), and EUR/USD (^EURUSD) rose +0.0058 (+0.51%). Sep yen futures (J6U0) closed up +0.28 (+0.30%), and USD/JPY (^USDJPY) fell -0.29 (-0.27%).
The dollar index on Wednesday tumbled to a 2-week low on dovish Fed comments and on a mild rally in U.S. stocks that curbed liquidity demand for dollars. Also, EUR/USD gained on comments from ECB policymakers. USD/JPY fell back after better-than-expected Japanese economic data boosted the yen.
U.S. stock futures on Wednesday posted moderate gains, which weighed on the dollar. Gains in mining stocks and metals producers lifted the overall market with a rally in gold prices to an 8-3/4 year high and a rally in silver to a 10-month high. Increased U.S./China tensions are negative for stocks but positive for safe-haven demand of dollars after China said it would restrict visas for U.S. officials for what it called "egregious"... Read more