The US dollar slowed its momentum during the trading session today, as most investors prefered to close their profitable positions and wait for the publication of series of crucial macroeconomic indicators on Wednesday. Major concern amongst investors again turns out to be Federal Reserve Banks intentions to reduce the scale of financial stimulus program or on the contrary, to continue the course of extra money printing.
The Dollar Index, which gauges the performance of the US dollar versus a number of major currencies, reduced its value by 0.3% to 83.05. It became clear, that the dollar weakened its positions against the euro by 0.25% and by 0.53% against the japanese yen.
Market participants lie in wait for US indicators, regarding the monthly Industrial Production, Treasury International Capital Flows, Core Producer Price Index, Producer Price Index on monthly and yearly basis, which are expected tomorrow, as well as vital data, related with Consumer Price Index, Initial Jobless Claims, Building Permits and Housing Starts on Thursday. Additionally, on Friday the focus is going to be on Preliminary University of Michigan Confidence Index and Leading Indicators Index.
During Monday session, it was also reported, that US retail sales marked an unexpected increase in value during April, compared to previous month, the cause of which, was the rise in consumer demand of goods, including those not of first necessity.
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