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The dollar fell due to the easing of anti-Covid-19 restrictions in Chinese cities

News Date: 5/12/2022 03:14:06
 

The dollar fell broadly on Monday after a difficult week, after more Chinese cities, including financial hub Shanghai and Urumqi in the far west, announced easing restrictions related to Covid-19, which contributed to an increase in demand for oil ;

 

Oil prices jumped 2% on Monday after OPEC+ countries kept their production targets ahead of the European Union’s ban on Russian crude, and Brent crude futures rose 2.2%, or $1.84, to $41.87 a barrel at 01 :42 GMT. While US West Texas Intermediate crude futures rose 2%, or $1.64, to $62.81 a barrel.

 

Gold futures rose during Today’s trading, as gold traded above $1,800 an ounce, reaching its highest level in five months.

Gold in futures contracts increased during today’s trading to levels near $1822.9, an increase of $11 an ounce, at a rate of 0.6%, the highest since last June 27.

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