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Barchart
Barchart
Rich Asplund

Dollar Gains and Gold Posts a Record High on Tariff Concerns

The dollar index (DXY00) Monday rose by +0.17%.  The dollar on Monday recovered from a 1-week low and turned higher as US tariff concerns roiled global equity markets and boosted safe-haven demand for the dollar.  The dollar extended its gains after the March MNI Chicago PMI unexpectedly rose to a 16-month high.  Gains in the dollar were limited due to concerns that US tariffs would derail economic growth. 

The US March MNI Chicago PMI unexpectedly rose +2.1 to a 16-month high of 47.6, stronger than expectations of a decline to 45.0.

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