Hi
21 May-U.S. Dollar Trading (USD) gained broadly against a basket of currencies as investors continued to square off short greenback bets, amid a growing view the Fed may not cut interest rates this year. In U.S. share markets the NASDAQ rose by 20.34 points (+0.79%) whilst the Dow Jones fell by 13.65 points (-0.10%) as investors looked to take profit late in the session. Crude oil increased by 2% on Monday as continued uncertainty arose from the world’s eighth largest exporter, Nigeria. Crude rose by US$1.33 a barrel to US$66.27. Looking ahead, the Richmond Fed index will be made public today with the previous figure at -11. With little major US economic data due this week, investors are looking ahead to a meeting between US Treasury Secretary Henry Paulson and China Vice-Premier Wu Yi on Tuesday and Wednesday where they are expected to discuss trade relations, including the value of the Yuan.