Stock indexes globally were flat to higher on Tuesday with technology shares recovering on Wall Street, while the U.S. dollar touched its lowest level since late February.19 May 2021 01:55AMNEW YORK: Stock indexes globally were flat to higher on Tuesday with technology shares recovering on Wall Street, while the U.S. dollar touched its lowest level since late February.
Fed Vice-Chair Richard Clarida on Monday pointed to the weak April jobs report as proof of weakness in the economy.Several Fed policymakers are expected to speak this week and the U.S. central bank is due on Wednesday to release the minutes from its April policy meeting, which will be read closely for any indications about where monetary policy is headed this year.
"That's going to be bearish for the dollar. You'll eventually see commodity-based currencies outperforming," Moya said.The progress of COVID-19 vaccine deployment and easing of measures to contain the pandemic have lifted higher-risk currencies that stand to benefit most from economic revival. On Wall Street, the Dow Jones Industrial Average fell 76.61 points, or 0.22per cent, to 34,251.18, the S&P 500 lost 5.04 points, or 0.12per cent, to 4,158.25 and the Nasdaq Composite added 57.71 points, or 0.43per cent, to 13,436.76.
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