South African Rand Dec '20 (T6Z20)
South African Rand Futures Market News and Commentary
The dollar index (DXY00) on Friday moved up +0.640 (+0.69%). Sep euro-fx futures (E6U0) closed down -0.0093 (-0.78%), and EUR/USD (^EURUSD) fell -0.0093 (-0.78%). Sep yen futures (J6U0) closed down -0.32 (-0.34%), and USD/JPY (^USDJPY) rose +0.37 (+0.35%).
The dollar index on Friday posted moderate gains on heightened U.S./China tensions after President Trump issued executive orders to ban two Chinese technology companies. Dollar gains accelerated on a better-than-expected U.S. July payroll report.
The dollar opened higher in overnight trading after a slide in global equity markets boosted the liquidity demand for the dollar. Stocks fell on an escalation of Chinese tensions after President Trump on Thursday night signed executive orders prohibiting U.S. residents from doing business with the Chinese-owned TikTok and WeChat apps beginning 45 days from now, citing a national security risk of leaving Americans' personal data exposed. Also, the Treasury Department said Fri... Read more
- EURUSD Looks To Pullback Further On Price Sell Off
EURUSD saw a price weakness after selling off on Friday. This development leaves vulnerable to further declines.
- USDCHF Rejects Lower Prices, Sees Recovery Higher
USDCHF faces risk of further a move higher after rejecting lower prices on Friday. Support comes in at the 0.9100 level.
- Bears in Charge on USDNOK - Elliott wave analysis
USDNOK looks to have found a top at the 12.129 level, from where we have seen a bearish, five-wave movement.
- July Nonfarm Payrolls Increase More than Expected
July nonfarm payrolls report showed an increase of 1,800,000 when a gain of 1,675,000 was expected
- What Does Inflation Look Like?
We are seeing inflation in the metals and softs, but when will we see inflation in the grain and meats?
- TFM Sunrise Update Aug 7, 2020
Grains mixed overnight, dollar finding support. Cattle calls weaker, hogs mixed