American futures head south ahead of data flow
On Friday, Wall Street futures head south after the Dow reported its first 1% descend for two months. Moreover, traders awaited new reports.
The blue-chip Dow futures sank 12 points, the S&P 500 futures dipped 3 points, while Nasdaq 100 futures lost 13 points.
Market participants were busy with gauging the greenback’s weakness. The US Dollar Index, gauging the dollar’s strength against major six currencies sagged 0.42%, trading at 93.34, thus reaching eight-month lows as an indication of poor growth. That powered rumors that the Fed wouldn’t be able to keep tightening its monetary policy.
The weak greenback and the surprise that the BOJ didn’t get down to expanding its stimulus measures the week, brought the Japanese yen to its 18-month high against the greenback. By the way, USD/JPY achieved an intraday low, trading at 106.91, the weakest value since October 2014.
Additionally, the feeble dollar also helped gold to grasp a 14-month peak. It also assisted oil to mark new year’s highs on Friday.