The dollar remained steady against most major currencies on Monday as markets turned their focus to crucial US economic data expected later this week.
Last Monday, Wall Street experienced significant turbulence, with widespread selloffs triggered by fears of a potential US recession. However, the market managed to recover some of its losses in the following sessions.
This week, investors are eagerly awaiting a series of key economic reports, including figures on consumer and producer prices, industrial output, and retail sales, which will provide further insight into the economic outlook.
In the latest trading session, the dollar index held steady at 103.1 as of 21:00 GMT, reaching a high of 103.3 and dipping to a low of 103.09. Concurrently, gold prices surged to new record levels as the dollar remained stable against most major counterparts.
Additionally, spot gold prices increased by 1.5%, reaching $2,511.4 per ounce as of 21:01 GMT.
