The US dollar is trading mainly flat with minor climbs against the yen and the euro. Investors are anticipating the crucial event of the week, the ECB policy meeting. Traders did not find out any clues to the prospects of the Fed’s rate cut in the nonfarm payrolls. So, they shifted focus to the speech by Jerome Powell and comments by other Fed’s officials. Unlike ECB officials who send a clear message about monetary easing, their colleagues from the Federal Reserve seem to avoid making straightforward comments. Voting members of the US rate-setting committee indicated that they do not want to shed light on decisions of the September policy meeting. Their viewpoints confound expectations of market participants. Meanwhile, the lingering trade conflict between the US and China increases the risk of recession. White House economic adviser Larry Kudlow warned that the trade conflict could take years to resolve. China’s exports dropped unexpectedly in August amid sharp contraction of exports to the US. Such data confirms weakness in the second largest global economy. The yuan declined in response. The US dollar index was trading flat at around 98.44 in the Asian trade. The greenback is trading slightly higher versus the yen. The dollar/yen pair settled up at near 107. Traders are absorbing macroeconomic data from Japan. Its economic growth eased in the second quarter, though GDP readings on a quarterly and yearly basis came in line with expectations. The Australian dollar developed a steady rally last week, having hit the strongest level since August 1. Today the AUD/USD pair continues its climb, trading at 0.6855. The aussie dollar found support from a solid report on mortgage approvals for July.