South African Rand Dec '20 (T6Z20)
South African Rand Futures Market News and Commentary
The dollar index (DXY00) on Friday rose +0.063 (+0.07%). Dec euro-fx futures (E6Z0) closed down -0.0027 (-0.23%), and EUR/USD (^EURUSD) fell -0.0026 (-0.22%). Dec yen futures (J6Z0) closed down -0.0002 (-0.02%), and USD/JPY (^USDJPY) rose +0.06 (+0.06%).
The dollar index on Friday recovered from early losses and finished with modest gains. Stronger-than-expected U.S. economic data was supportive of the dollar. Also, weakness in stocks on Friday fueled liquidity demand for the dollar. The dollar extended its gains Friday after the 10-year T-note yield rose to a 4-1/2 month high. EUR/USD on Friday gave up early gains and moved lower on deflation concerns and dovish ECB commentary. USD/JPY posted modest gains on dollar strength.
Friday's stronger-than-expected U.S. economic data is positive for the dollar. U.S. Sep personal spending rose +1.4% m/m, stronger than expectations of +1.0% m/m. Also, Sep personal income rose +0.9% m/m, stronger than expectations of +0.4% m/m. I... Read more
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