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Dollar Index Steadies as Focus Shifts to U.S. Jobs Data

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LONDON Reuters The U.S. dollar was broadly steady on Monday as global markets started the week in a cautious mood, while currency market focus started shifting towards key U.S. payrolls data on Friday.

Some analysts attributed the lack of momentum during Asian trading to a spike in COVID19 cases in the region, as Australias most populous city, Sydney, went into lockdown.

Indonesia is battling recordhigh cases while a lockdown in Malaysia is set to be extended. Thailand too announced new restrictions in Bangkok and other provinces.

But the Australian dollar, which is seen as a liquid proxy for risk appetite, was up around 0.1 on the day at 0.75935 at 0737 GMT.

The U.S. dollar index was little changed at around 91.718. Last week, it dropped 0.5.

The New Zealand dollar was up 0.2 at 0.708.

Softerthanexpected inflation data last week did little to ease concerns about the U.S. Federal Reserve dialling down its monetary stimulus.

The U.S. personal consumption expenditures PCE price index, excluding the volatile food and energy components, increased 0.5, short of expectations for a 0.6 rise.

Speculators decreased their net short dollar positions in the latest week, according to calculations by Reuters and U.S. Commodity Futures Trading Commission data released on Friday.

Among a raft of economic indicators this week, Fridays payroll data is a key focus with economists expecting an increase of 675,000 jobs.

Noting a lack of volatility in currency markets, ING…

Asian Shares KickOff Week on Cautious Note as COVID19 Cases Spike

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