The U.S. dollar has seen some selling in early European trade Monday, but from lofty heights as tensions between China and the U.S. continue to simmer and Japan enters recession.
The Dow surged on Monday as signs of progress on a potential Covid-19 vaccine and hopes of further central bank stimulus triggered a sea of green across stocks.
Gold prices fell on Monday as risk appetite returned to global markets on the back of positive preliminary test results from an experimental drug designed to fight the Covid-19 virus, while comments from senior U.S. officials over the weekend had mixed effects.
U.S. stock markets opened lower for a third straight day after data showing initial jobless claims fell more slowly than expected than last week, further stoking fears that the economy will struggle to rebound even as the country moves out of lockdown.
The number of Americans applying for initial unemployment benefits totaled 2.98 million in the week ending May 9, the U.S. Labor Department said Thursday, the smallest number since March but still far from signaling any meaningful turnaround in the labor market.