The U.S. dollar was seen trading mixed by Friday’s close as the currency pair failed to hold on to the gains across some of its peers. The U.S. dollar fell sharply against the Japanese yen, while against the euro and the British pound, the greenback was trading rather flat.
Economic data on Friday saw the inflation report from Canada. Coming in line with estimates, monthly inflation rate turned flat as expected following a 0.1% decline previously. The UoM consumer sentiment showed an increase to 97.6, beating estimates of 94.0 while inflation expectations from the UoM remained steady at 2.6%.
Looking ahead, the economic calendar today is light with no major events scheduled. Second tier data includes Canada’s wholesale sales. With the Jackson Hole event due to start this Thursday, the markets are likely to take a breather ahead of the key event which will see speeches from ECB’s Draghi.
