The dollar index (DXY00) on Friday fell by -0.38%. The dollar was under pressure Friday from strength in stocks, which reduces liquidity demand for the dollar. Also, the strength of the euro on Friday weighed on the dollar after hawkish comments from ECB Executive Board member Schnabel boosted the euro. Friday’s reports on US Apr capital goods new orders nondefense ex-aircraft and parts and the University of Michigan US May consumer sentiment were better than expected and supportive for the dollar.
US Apr capital goods new orders nondefense ex-aircraft and parts, a proxy for capital spending, rose +0.3% m/m, stronger than expectations of +0.1% m/m.
