New Zealand Dollar Futures Market News and Commentary
The dollar index (DXY00) on Friday fell by -0.164 (-0.17%). Dec euro-fx futures (E6Z9) closed up by +0.0030 (+0.27%), and EUR/USD (^EURUSD) rose by +0.0032 (+0.29%). Dec yen futures (J6Z9) closed down by -0.0039 (-0.42%), and USD/JPY (^USDJPY) rose by +0.39 (+0.36%).
The dollar index fell to a 1-week low Friday on strength in GBP/USD and EUR/USD along with mixed U.S. economic data.
Positive trade news boosted U.S. stocks indexes to new all-time highs Friday and undercut safe-haven demand for the yen and fueled gains in USD/JPY. Stocks and USD/JPY surged after White House economic adviser Kudlow on Thursday night said that the first phase of a trade deal with China was close though "not done yet" and that "we are coming down to the short strokes" of signing a deal.
Reduced trade tensions boosted the yuan which rose +0.16% Friday to a 3-session high against the dollar. The yuan also found support after the PBOC refrained from boosting stimulus measures and kept th... Read more