Swiss Franc Dec '23 (S6Z23)
Swiss Franc Futures Market News and Commentary
The dollar index (DXY00) finished little changed on Friday.  The dollar found some support from Friday’s +4% jump in WTI crude oil prices, which raises inflation expectations and could prompt the Fed to pursue tighter monetary policy, a supportive factor for the dollar. Also, Friday’s stock selloff boosted liquidity demand for the dollar.  Friday’s US economic news was mixed for the dollar, with housing starts and consumer sentiment stronger than expected, but building permits and manufacturing production below expectations.  The dollar gave up its gains on Friday as T-note yields declined, which weakened the dollar’s interest rate differentials.Â
US Jun housing starts rose +19.0% m/m to 1.427 million, stronger than expectations of 1.310 million. However, Jun building permits, a proxy for future construction, fell -3.0% to 1.367 million, below expectations of 1.403 million.
US Jun manufacturing production was unchanged m/m, weaker than expectations of +0.1% m/m.
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