The haven-associated US Dollar may continue to gain ground against its major counterparts on the back of seasonal dynamics and robust economic data.
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The haven-associated US Dollar may continue to gain ground against its major counterparts on the back of seasonal dynamics and robust economic data.
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Crude oil prices extended lower as the US Dollar climbed during Monday’s APAC session. The energy demand outlook is weighed by lower oil consumptions from Japan and India due to viral resurgence.
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Robust US data and a Fed official’s hawkish comments may hinder upside potential for gold as traders weigh tapering risks. The US Dollar index may reverse its downward trajectory after Friday’s surge.
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The US Dollar still remains under pressure against most ASEAN currencies heading into May. A busy week awaits the Indonesian Rupiah, Thai Baht, Philippine Peso and Singapore Dollar.
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Stocks on Wall Street closed broadly lower on Friday as investors assessed lofty stock market valuations and hawkish Fed commentary. Chinese and Japanese markets are shut for holidays.
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