Russian Ruble Futures Market News and Commentary
The dollar index (DXY00) on Friday rose +0.525 (+0.58%). March euro-fx futures (E6H1) closed down -0.0078 (-0.64%), and EUR/USD (^EURUSD) fell -0.0076 (-0.63%). March yen futures (J6H1) closed down -0.07 (-0.08%), and USD/JPY (^USDJPY) rose +0.06 (+0.06%).
The dollar index on Friday climbed to a 3-1/2 week high as weakness in stocks spurred liquidity demand for the dollar. The dollar also rose after EUR/USD tumbled to a fresh 1-month low on concern that additional Covid lockdowns in Europe will weaken Eurozone economic growth. USD/JPY traded mixed on Friday.
U.S. stock indexes on Friday retreated, which boosted demand for the dollar. Stocks fell as President-elect Biden's $1.9 trillion pandemic stimulus plan released late Thursday came under scrutiny. Markets are concerned that Biden's proposals could be watered down by congressional opposition. Also, stocks were undercut by the possibility of higher taxes.
The dollar maintained its g... Read more