Wall Street futures dropped on Friday after the Dow issued its first decline of more than 1% in two months, while investors are closely watching on data.
The blue-chip Dow futures lost 12 points, or 0.06%. The S&P 500 futures were down by 3 points, or 0.14%, while the tech-heavy Nasdaq 100 futures decreased by 13 points, or 0.29%. ВВВВВ
Market participants were assessing the weakening dollar. The U.S. Dollar Index that measures the dollar’s value against other major rivals slid 0.42% in 93.34, marking 8-month low, which implies to a sluggish growth fueled by speculations that the Fed would not tighten the monetary policy.
The yen was pushed to an 18-month high against the dollar, led by the struggling dollar, also because Bank of Japan did not surprisingly expand its stimulus this week. Apparently, USD/JPY marked an intraday low at 106.91, hitting its weakest level since October the prior year.
Gold finds support from the feeble dollar as it hit a 14-month high as well as U.S. crude making its way to a new highs for 2016.
Ahead of the first remarks from a Fed regulator amid decisions on the monetary policy, Robert Kaplan, Dallas Fed president wished to boost gradual improvement in interest rates as long as inflation remained high and the labor market marked close to full employment. ВВВВВ
“As we continue to make progress in achieving our dual mandate, I will advocate that we take actions to remove some amount of accommodation," Kaplan said.
"I will also advocate that we take these steps in a gradual and patient manner," he added.
Meanwhile, investors are eyeing for the upcoming publication of a slew data.
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