The US Dollar trades in the green against its peers, recovering some of the losses registered on Monday
Equity markets are erasing their positive start of the week.
The US Dollar Index jumps back above 104.00 after falling below it during the Asia-Pacific trading session.
The US Dollar (USD) trades in the green on Tuesday in an attempt to recoup Monday’s losses. The Greenback is rallying supported by substantial safe-haven inflows as most major equity markets are in the red. The move sparked during the Asian trading session, with the Indian Nifty index falling over 5%, as Prime Minister Narendra Modi’s victory appears to be narrower than what polls were predicting.
On the economic front, all eyes are on some important indicators that could further confirm the slightly downbeat sentiment surrounding the US economy. The main event will be the US JOLTS Job Openings report for April. Although this is a lagging number, job openings have been decreasing for several months in a row and a further decline could further confirm the end of that US exceptionalism.
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