South African Rand Futures Market News and Commentary
The dollar index (DXY00) this morning is down -0.193 (-0.21%). Sep euro-fx futures (E6U0) are up +0.0031 (+0.26%), and EUR/USD (^EURUSD) is up +0.0030 (+0.26%). Sep yen futures (J6U0) are down -0.14 (-0.14%), and USD/JPY (^USDJPY) is up +0.19 (+0.18%).
The dollar index this morning is moderately lower as a rally in stocks curbs the liquidity demand for the dollar. Also, EUR/USD jumped after a gauge of German investor confidence unexpectedly rose. Losses in the dollar were limited after U.S. producer prices rose more than expected last month.
The dollar retreated this morning after U.S. stocks indexes jumped when President Trump hinted that he might use an executive order to cut the capital gains tax. Stocks also rose, and the dollar fell, due to falling Covid hospitalization rates in the U.S. after New York, California, and Texas all reported falling hospitalizations on Monday.
Dollar losses were also contained on higher T-note yields as the 10-year T-note yield... Read more