U.S. Dollar/Japanese Yen Futures Market News and Commentary
The dollar index (DXY00) on Tuesday rose +0.015 (+0.02%). EUR/USD (^EURUSD) fell -0.0003 (-0.03%). USD/JPY (^USDJPY) fell -0.23 (-0.21%). The dollar index on Tuesday was slightly higher on stronger-than-expected U.S. June factory orders report. Gains were limited as a rally in stocks curbed the liquidity demand for the dollar.
EUR/USD (^EURUSD) on Tuesday fell slightly as weakness in German bund yields weighed on the euro. The 10-year German bund yield Tuesday fell to a 6-month low of -0.492%. Losses in EUR/USD were contained by the acceleration of the Eurozone June PPI to a 38-year high of +10.2% y/y. USD/JPY (^USDJPY) on Tuesday posted moderate losses and dropped to a 2-month low.
Tuesday’s U.S. economic data was better than expected and bullish for the dollar. U.S. June factory orders rose +1.5% m/m, stronger than expectations of +1.0% m/m.
August gold (GCQ21) on Tuesday closed down -8.00 (-0.44%), and Sep silver (SIU21) closed up +0.007 (+0.03%). A str... Read more