Russian Ruble Futures Market News and Commentary
The dollar index (DXY00) on Monday fell -0.267 (-0.29%). EUR/USD (^EURUSD) rose +0.0032 (+0.27%). USD/JPY (^USDJPY) fell -0.17 (-0.15%). Weaker-than-expected U.S. economic data on Monday weighed on the dollar, as did strength in the euro and the yen. Also, a rally in the S&P 500 to a new record high on Monday curbed the liquidity demand for the dollar.
EUR/USD (^EURUSD) on Monday rallied moderately as higher German bund yields strengthened the euro’s interest rate differentials. Gains in EUR/USD were limited after the German Jul IFO business climate unexpectedly fell -0.9 to 100.8, weaker than expectations of an increase to 102.5. USD/JPY (^USDJPY) fell back Monday as lower T-note yields for most of the day Monday boosted the yen. Strength in the yen was limited Monday after the Japan Jul Jibun Bank services PMI fell -1.6 to a 5-month low of 46.4.
Monday’s U.S. economic data was weaker than expected and bearish for the dollar. U.S. June new home sales unexpected... Read more