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US dollar Index Holds at 10-week low



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    US Dollar Index Holds at 10Week Lows
    The US Dollar Index held at 90.223 in early APAC trade Monday, following its worst week since November 2020 in reaction to a payroll report that showed the US economy only added 266,000 jobs in April, well below market expectations of almost one million amid an escalating shortage of available workers. Such reading heightened the uncertain outlook regarding the US job market recovery and cemented expectations that the US central bank will remain ultra-accommodative until the economy has further recovered. Meantime, traders are monitoring reports of a ransomware attack on the US’ largest fuel pipeline. US Commerce Secretary Gina Raimondo noted that the Federal government is working to avoid supply disruptions after Colonial Pipeline suspended operations on Friday. Local 10-year bond yields were at 1.597%. Ahead in the week, market participants will be monitoring inflation rate, retail sales and consumer sentiment data. .


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