New Zealand Dollar Futures Market News and Commentary
The dollar index (DXY00) on Wednesday fell -0.208 (-0.23%). Dec euro-fx futures (E6Z0) are up +0.0019 (+0.16%), and EUR/USD (^EURUSD) rose +0.0028 (+0.23%). Dec yen futures (J6Z0) is down -0.0010 (-0.11%), and USD/JPY (^USDJPY) rose +0.19 (+0.18%).
The dollar index on Wednesday tumbled to a new 2-1/2 year low. Weaker-than-expected U.S. economic data weighed on the dollar along with a rebound in stocks, which weakened the liquidity demand for the dollar. EUR/USD climbed to a new 2-1/2 year high Wednesday on better-than-expected Eurozone economic data. USD/JPY posted moderate gains on dovish BOJ comments and strength in stocks, which reduced safe-haven demand for the yen.
U.S. stock indexes on Wednesday recovered from early losses and moved higher. Stocks gained on improved prospects for a pandemic relief package after House Speaker Pelosi on Wednesday called for immediate stimulus talks and said that the bipartisan $908 billion stimulus plan put forth... Read more