Investors await inflation data from the world’s largest economies.
He global dollar was trading steady on Monday but headed for its first monthly loss of the year as investors await data on inflation in USA, Europe and Japan to guide the outlook for global interest rates.
He dollar indexwhich compares the greenback to a basket of six major currencies, fell slightly to 104.72 units, on track to lose 1.5% in May, its steepest monthly decline since December.
He euro, which gained 0.9% against its US peer last week, was trading at $1.0845, in the center of a narrow range it has maintained for more than a year. The community currency barely reacted to a survey that showed that German business confidence worsened in May, compared to forecasts for improvement.
On Wednesday the data of the inflation in Germany and on Friday those of the euro zone, which will be analyzed in detail to confirm the rate cut planned for next week.
The pound sterling It was testing the upper limit of a range that it has maintained this year at $1.2745.
It is expected that the reading on Friday price index of personal consumption expenditures In the United States, the preferred measure of inflation Federal Reserve(Fed), remains stable month after month.
He and in This month it was able to seal its first monthly increase of the year thanks to the alleged intervention of the Japanese authorities at the end of April and beginning of May, but since then it has been declining. On Monday it was trading stable at 156.86 units per dollar.
Monday’s day is marked by the festivities that are celebrated in United Kingdom and USA.
Source: Ambito
