Gold Mini Futures Market News and Commentary
The dollar index (DXY00) on Friday fell -0.014 (-0.01%). The dollar index on Friday shed early gains and finished slightly lower. A drop in T-note yields on Friday undercut the dollar after the 10-year T-note yield fell t a 2-1/4 month low of 1.333%. The dollar initially moved higher Friday on hawkish comments from St. Louis Fed President Bullard when he said he favors the Fed speeding up the pace of taper. Also, a slump in stocks on Friday sparked some liquidity demand for the dollar.
EUR/USD (^EURUSD) on Friday rose +0.0007 (+0.06%). EUR/USD on Friday posted modest gains. Dollar weakness on Friday benefitted EUR/USD. Gains in the euro were contained Friday by weaker-than-expected Eurozone economic data. Eurozone Oct retail sales rose +0.2% m/m, weaker than expectations of +0.3% m/m. Also, the Eurozone Nov Markit composite PMI was revised downward by -0.4 to 55.4 from the previously reported 55.8.
USD/JPY (^USDJPY) on Friday fell -0.35 (-0.31%). USD/JPY on Frida... Read more