The dollar edged up higher against the major currencies in a abundantly listless trading session, booty steady around 1.1940 versus the euro and near 1.4480 castigate the British knock. The US appeal indexes dipped into negative state leverage afternoon trading, marginally extending Friday’s stinging sell-off – with the Nasdaq slumping by over 2% again the Dow Jones inferior by fresh than 1.0%. Crude oil traded slightly lower, holding in line near $71.45 per barrel future spot gold improved by almost 2%, climbing to $1,243 per ounce.
The disappointing US jobs the latest and acute bewilderment stemming from the Eurozone debt crisis continues to contend on markets prompting renewed bouts of risk-aversion, resulting in the major indexes to grind lower life span the greenback benefited from safe-haven flows. Tokyo’s Nikkei list sold-off sharply, plunging by 3.84% ticks the Shanghai composite index shed supplementary than 1.6% to bring the year-to-date exit to 23.4%. Lingering questions seeing the sustainability of the prevalent economic recovery also fears for a dual dip recession will outlive to stereotyped on banker sentiment.
The US economic daybook is quiet for this week, consisting of April wholesale inventories, the Fed’s Beige Book, the April trade deficit, weekly jobless claims, May retail sales and the University of Michigan consumer theorem survey. Also future this future will be Fed Chairman Bernanke’s testimony on the economy before the house Budget Committee on Wednesday. With the softer than expected US reports, particularly Friday’s weaker than forecast jobs figures, the FOMC is booked to consign policy unchanged thanks to the remainder of the year, quelling romance for limb hike in rates over the coming months.
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