Gold Futures Market News and Commentary
The dollar index (DXY00) on Friday rose by +0.07%. The dollar Friday posted modest gains, supported by higher T-note yields. Also, Friday’s U.S. reports showed the University of Michigan Jan consumer sentiment climbed to a 9-month high, and Dec pending home sales unexpectedly increased, which were bullish for the dollar. Strength in stocks Friday cubed liquidity demand for the dollar.
Friday’s U.S. economic news was primarily bullish for the dollar. Dec personal income rose +0.2% m/m, right on expectations. Also, Dec pending home sales unexpectedly rose +2.5% m/m, stronger than expectations of -1.0% m/m and the biggest increase in 14 months. In addition, the University of Michigan U.S Jan consumer sentiment was revised up by +0.3 to a 9-month high of 64.9. On the bearish side, Dec personal spending fell -0.2% m/m, right on expectations and the biggest decline in a year.
EUR/USD (^EURUSD) on Friday fell by -0.21%. A stronger dollar Friday weighed on the euro. Al... Read more