The dollar index .DXY, which measures the greenback against a basket of six other major currencies, was down 0.3 percent at 89.842, after slipping to low of 89.818, its weakest since March 28.
Meanwhile, the euro EUR=, was up 0.32 percent against the greenback. A slide in stock markets this year has not materially impacted euro zone financial conditions, European Central Bank President Mario Draghi said on Monday, suggesting that policymakers remain calm about the recent market volatility.
• While Draghi’s comments were not materially a surprise, analysts said the move in the euro may have been exaggerated in a thin market which is expecting some more clarity on the trade war front when President Xi Jinping speaks at the Boao Forum for Asia in the southern province of Hainan on Tuesday.
• The European Central Bank should be “cautious” and avoid tightening its ultra-loose monetary policy too fast to avoid derailing a rebound in euro zone inflation, the ECB’s outgoing vice president Vitor Constancio said on Monday.
• The Trump administration announced on Monday a new effort to speed environmental reviews for major infrastructure projects, a White House official said.
U.S. President Donald Trump has made shortening the often lengthy timetable to get approvals for new highways, runways and other projects a key focus of his infrastructure reform plans.
• The massive tax cuts signed into law in December, which Republicans said would pay for themselves, will balloon the U.S. deficit in years ahead, the Congressional Budget Office said on Monday, possibly hobbling President Donald Trump’s future agenda.
The deficit - the amount that Washington’s spending exceeds its revenues - will expand to $804 billion in fiscal 2018, which ends on Sept. 30, up from $665 billion in fiscal 2017, CBO said.
The national debt is on track to approach 100 percent of gross domestic product (GDP) by 2028, said the nonpartisan CBO, which analyzes legislation for Congress.
• U.S. President Donald Trump said on Monday he planned to meet North Korean leader Kim Jong Un next month or in early June and hoped the discussions would ultimately lead to an end of the North’s nuclear weapons program.
• The Federal Bureau of Investigation on Monday raided the offices and home of U.S. President Donald Trump’s personal lawyer Michael Cohen, law enforcement sources said, in a dramatic new development in a series of probes involving close Trump associates.
Cohen’s lawyer, Stephen M. Ryan, said that U.S. prosecutors conducted a search that was partly a referral by the Office of Special Counsel, Robert Mueller.
• The United States plans to call for a U.N. Security Council vote on Tuesday on a proposal for a new inquiry into responsibility for use of chemical weapons in Syria after reports of a poison gas attack on a rebel-held town, diplomats said.
After President Donald Trump warned on Monday that there would be a “big price to pay” for the suspected attack over the weekend, the United States circulated to the 15-member council a revised draft resolution to establish an international inquiry, which it initially suggested on March 1.
• A Syria medical relief group said that at least 60 people were killed and more than 1,000 injured at several sites in the attack on Douma on Saturday. Russia and Syria said there was no evidence that a gas attack had taken place.
Mexico said on Monday it will review all forms of cooperation with the United States, including efforts to combat powerful drug cartels, in a sign of mounting frustration over President Donald Trump’s antagonistic attitude toward the country.
• Oil prices rose on Monday, supported by a rebound in the stock market as concerns of a trade war between the United States and China eased.
Brent crude LCOc1 futures rose $1.25 to $68.36 a barrel, a 1.9 percent gain, by 12:29 p.m. EDT (1629 GMT).
U.S. West Texas Intermediate (WTI) crude CLc1 futures rose $1.21 to $63.27 a barrel, a 2.0 percent gain.
Reference: Reuters
Thai
Eng