Lack of fundamentals on a quiet trading day left the U.S. dollar to trade flat following Friday’s decline. However, the USD was seen trading mixed across the board especially with the commodities turning weaker on the day.
Looking ahead, the inflation data coming out today will be a major event to watch with both headline and core inflation rate expected to rise at a slower pace compared to January’s solid gains. On an annual basis, headline CPI is expected to rise slightly while core CPI is expected to remain flat at a pace of 1.8%.
Elsewhere, the BoC Governor Poloz is expected to speak later in the afternoon followed by second tier data from Japan.
