Dollar struggles to gain momentum as markets await inflation data | latest news


The dollar stabilized on Monday after losses suffered on Friday following the release of US jobs data that came in below expectations, while currency markets generally lacked momentum as investors awaited important inflation data this week.

The jobs data was seen as a relief to the markets as it showed that the expansion of job growth was not strong enough to reinforce expectations that the Federal Reserve will tighten monetary policy sooner which hurt the dollar.

Currency rates were little changed in early European trading today while global stocks are trading near record levels.

Before the opening of the Wall Street Stock Exchange, the dollar index settled at 90.141, while the euro lost 0.1 percent against the dollar, at $ 1.2159.

The Australian dollar, an indicator of risk appetite, gained 0.2 percent against its US counterpart at 0.77535.

Markets are awaiting US inflation data due on Thursday and the European Central Bank meeting on the same day.

The Chinese yuan hovered near an important level at 6.40, while it was traded at 6.3960 in offshore trading.

In cryptocurrencies, Bitcoin rose two percent to about $ 36,535, while Ethereum increased 4.2 percent to $ 2825. Both currencies were trading within the relatively limited ranges for the month.


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