The greenback managed to hold on to the gains made from Friday on Monday’s session. Price action was however rather subdued with thelack of any clear economic data on Monday.
Fed speeches included that from Neel Kashkari and Bullard. Bullard said that the Fed does not need to raise interest rates in the near term amid a surprisingly stubborn low inflation. The US consumer prices data will be released this Friday. Expectations are high that inflation has managed to increase in July.
Looking ahead, the economic data today will include the German trade balance followed by the NFIB small business index in the US Later in the evening, RBA assistant governor Kent will be speaking.
