In the Asian session on Thursday (April 6), the latest price of the U.S. dollar index was 101.86, and the opening price was 101.89. Recession woes are intensifying as a streak of weak U.S. jobs data raises concerns about a slowdown in the world’s largest economy and its associated contagion risks.
JOLTS job vacancies in the US fell disappointingly to a 19-month low in February, followed by ADP‘s employment change for March, which fell to 145,000 from an expected 200,000 and revised upwards to the previous 261,000 . Likewise, final readings for the S&P Global Composite and Services PMI for March were also subdued, with the former falling to 52.3 from an initial estimate of 53.3 and Services PMI falling to 52.6 from an earlier estimate of 53.8.
The U.S. dollar index extended the previous day’s rally, rising from a two-month low to 102.00, up 0.12% on the session, as worries about an economic slowdown and geopolitical disaster from China and North Korea boosted the greenback’s safe-haven appeal. force. That came despite S&P 500 futures falling for a third straight day, even as benchmark U.S. Treasury yields hovered near multi-session bottoms.
