Investing.com - The Australian dollar held weaker in Asia on
Monday in thin trade.
In early dealing, AUD/USD traded at 0.9377, down 0.22%, while
USD/JPY traded at 101.46, down 0.16% and EUR/USD held at 1.3846,
Asia kicks off a short week in many countries that mark the
Easter holiday with few data releases today outside of the Monetary
Authority of Singapore's semi-annual policy review statement due at
0800 local time (0000 GMT).
Last week, the dollar edged higher against a basket of major
currencies as a global selloff sent equities markets lower, but
gains looked likely to be temporary amid expectations that U.S.
interest rates are likely to remain on hold for some time.
The greenback briefly found support after data on Friday showed
that U.S. producer prices rose 0.5% in March, the largest increase
in nine months and ahead of expectations for a 0.1% increase.
However, the dollar remained under pressure after the minutes of
the Federal Reserve's March meeting indicated that an interest rate
increase is unlikely to be warranted for some time.
The Fed's March meeting minutes, released on Wednesday, showed
that policymakers discussed whether to keep interest rates at
record lows until inflation moves higher, and did not elaborate on
a possible timeframe for when rates could start to rise.
Last month the U.S. central bank reduced the monthly pace of
asset purchases by $10 billion, to $55 billion, and repeated it is
likely to continue paring the program in "further measured
In the week ahead, market watchers will be focusing on speeches
by Fed Chair Janet Yellen, as well as reports on U.S. retail sales
and housing starts. Data on first quarter Chinese economic growth
and a rate decision by the Bank of Canada will also be closely
The US Dollar Index held at 79.68, up 0.15%.
Ahead of the coming week, Investing.com has compiled a list of
these and other significant events likely to affect the
On Monday, the euro zone is to release data on industrial
The U.S. is to produce data on retail sales, the government
measure of consumer spending, which accounts for the majority of
overall economic activity.
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