South African Rand Jun '20 (T6M20)
South African Rand Futures Market News and Commentary
The dollar index (DXY00) this morning is down -0.174 (-0.16%). Jun euro-fx futures (E6M0) are up +0.0045 (+0.41%), and EUR/USD (^EURUSD) is up +0.0032 (+0.29%). Jun yen futures (J6M0) are down -0.04 (-0.04%), and USD/JPY (^USDJPY) is up +0.05 (+0.05%).
The dollar index this morning is lower but remains above Wednesday's 3-1/2 week low. The dollar was undercut by weaker-than-expected U.S. economic data on Q1 GDP and weekly jobless claims. Also, EUR/USD strengthened to a new 1-3/4 month high on positive carry-over from Wednesday when the EU announced a massive 750 billion-euro coronavirus rescue package.
This morning's U.S. economic data was mostly dollar-negative after weekly initial unemployment claims fell -323,000 to 2.123 million, showing a weaker labor market than expectations for a decline to 2.100 million. Also, U.S. Q1 GDP was unexpectedly revised down by -0.2 points to -5.0% (q/q annualized), weaker than expectations for no revision from -4.8%, and the steepest... Read more
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