The opening of the future contract allowed all the investors who wanted IN to put their orders on Monday and 2,700 contracts representing a trading value of around $55 billion changed hand in the first day of trading.
The dollar index, which tracks the greenback against six major currencies, was down 0.08 percent at 94.37. For the week, the index was down 0.6 percent, on pace for its worst performance since the week ending Oct. 13.
Jean-Claude Juncker, president of the European Commission, will deliver the annual State of the Union speech next week in a more upbeat mood than a year ago, when the 28-nation bloc was buffeted by the U.K.’s decision to leave and anti-EU parties appeared to be on the march.
Option markets recorded the strongest bullish sentiment on the EUR since 2009 and the premium to buy calls has reached a record high. Investors are betting that the ECB will announce a change in its monetary policy on Oct 26th and will start reducing the size of its bond buying program ahead of time.
It’s 2007 all over again.
The euro is on a tear, U.S. investors are snapping up European stocks — and traditional theories to justify the shared currency’s spirited advance have broken down, as investors luxuriate in a climate of low volatility.
US DOLLAR awaiting the FED meeting
The dollar rose against the euro and yen in choppy trading on Friday after a report showed the U.S. economy created more jobs than expected last month, but gains were capped by wages data that analysts said were disappointing.