The US dollar is trading almost flat

The US dollar is trading almost flat in relation to other major currencies during early European trading. The greenback lost gas after last week's rollercoaster, framed by the downside created by a dovish Fed meeting and disappointing labour numbers, followed by some hawkish remarks from senior Federal Reserve officials. Investors are now in waiting mode, with this Tuesday's release of US inflation data taking centre stage. With further public appearances from Fed officials lined up for later this week, tomorrow's inflation numbers will provide the backdrop to their stance, which will be crucial for the dollar's performance.

Ricardo Evangelista – Senior Analyst, ActivTrades