Scrap 6063 Aluminum Extru. Idx Futures Market News and Commentary
The dollar index (DXY00) on Friday fell by -0.06%. The dollar on Friday retreated from a 2-1/4 month high and posted modest losses. A rally in stocks Friday curbed liquidity demand for the dollar. Also, T-note yields fell back from their highest levels, which weighed on the dollar. The dollar Friday initially moved higher as stronger-than-expected U.S. news on consumer spending and inflation bolstered the prospects of additional fed rate hikes. Also, weakness in the yen is positive for the dollar after the yen tumbled to a 6-month low against the dollar Friday.Â
Friday’s U.S. economic news was better-than-expected and positive for the dollar. Apr personal spending rose +0.8% m/m, stronger than expectations of +0.5% m/m. Also, Apr capital goods orders nondefense ex-aircraft and parts, a proxy for capital spending, unexpectedly rose +1.4% m/m, stronger than expectations of a decline of -0.1% m/m and the biggest increase in 16 months. In addition, the University of Michiga... Read more