Canadian Dollar Futures Market News and Commentary
The dollar index (DXY00) on Friday fell by -0.11%. The dollar index Friday gave up an early advance and posted modest losses. Mixed U.S. economic news Friday weighed on the dollar after the University of Michigan’s Sep U.S. consumer sentiment index was revised downward and the Sep MNI Chicago PMI fell to a 2-1/4 year low, while Aug personal spending rose more than expected. However, dollar weakness Friday was contained by higher T-note yields and weakness in stocks that boosted the liquidity demand for the dollar.
U.S. economic news Friday was mixed for the dollar. On the bearish side, the Sep MNI Chicago PMI fell -6.5 to 45.7, weaker than expectations of 51.8 and the steepest pace of contraction in 2-1/4 years. Also, the University of Michigan’s Sep U.S. consumer sentiment was revised downward by -0.9 to 58.6 from the previously reported 59.5. On the bullish side, Aug personal spending rose +0.4% m/m, stronger than expectations of +0.2% m/m. Also, the Aug PCE core defl... Read more