Dollar declined on Monday, following weaker-than-expected U.S. data that mitigated expectations of a Federal Reserve interest rate hike this year.
The U.S. dollar index fell by 10 pips on Monday, and settled at 95.58.
Dollar fell vs. a basket of currencies undermined by recent soft U.S. retail sales data as the Empire State Manufacturing Index for August declined to negative 4.2 from positive 0.6.
USD settled at ¥101 as Japanese stocks declined yesterday. Japan's economy failed to grow on a quarterly basis during the April-June period, such information boosted speculation about the strength of the Japanese economy and the stimulus programmes launched by the Bank of Japan.
USD could trade under pressure in anticipation of the Inflation data and minutes from July meetings of the Federal Reserve.
Gold failed to settle above $1,350 and traded at $1,340. The yellow metal could trade in a wide range in anticipation of important data from the U.S.
The Pound continued to extend its losses, trading below $1.29 vs. USD, and could decline further to “Brexit” levels.
Oil prices touched five-week highs on Monday, surging by 10% cumulatively in the past 3 sessions. U.S. crude oil traded above $45.50 on OPEC hopes as producers may have an informal meeting in Algeria later on this month.
The most important economic events:
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