Russian Ruble Futures Market News and Commentary
The dollar index (DXY00) on Tuesday rose by +0.137 (+0.14%). Dec euro-fx futures (E6Z9) closed down by -0.0023 (-0.217%), and EUR/USD (^EURUSD) fell by -0.0025 (-0.23%). Dec yen futures (J6Z9) closed up by +0.0006 (+0.06%), and USD/JPY (^USDJPY) fell by -0.06 (-0.06%).
The dollar index rallied to a 4-week high Tuesday on weakness in EUR/USD and on hawkish comments by Philadelphia Fed President Harker.
EUR/USD tumbled to a 4-week low Tuesday after ECB Vice President Guindos said that a recession in the Eurozone is unlikely, but that a long low-growth phase is a threat. Guindos' comment undercut EUR/USD since he suggested that he is in favor of keeping the ECB's ultra-easy monetary policies in place. A positive for EUR/USD was Tuesday's data that showed the German Nov ZEW expectations of economic growth index rose sharply by +20.7 points to a 6-month high of -2.1, stronger than expectations of +9.8 to -13.0.
The dollar maintained its gains Tuesday after Philadelph... Read more