The Australian dollar lost some ground during Asian trading hours, now back near 0.7400 against the greenback. Australia released the July TD Securities inflation figures estimated up 0.1% MoM and steady at 2.0% YoY, providing no support to the Aussie. In the meantime, the dollar retains a positive tone, as the effects of Chinese measures announced early Friday to lift the Yuan begun to fade, while the US employment report, also released at the end of last week, was not enough to take the Fed out of its current path of gradually rising rates.
Limiting the upside for the pair are equities, as European indexes are unable to hold on to early session gains, now losing ground. The absence of macroeconomic releases or fresh political headlines keeps majors' stable in well-limited ranges. The US won't release anything of relevance this Monday.
There will be no major data releases both from Australia and USA on Monday so we can expect an overall steadier session.