Investing.com - The Aussie fell sharply after major oil producers failed to reach a deal on an output freeze and ahead of central bank minutes later Monday.
AUD/USD traded down 0.79% to 0.7664, while USD/JPY changed hands at 108.36, down 0.39%.
New Zealand said first quarter consumer prices rose 0.2%, more than the 0.1% seen quarter-on-quarter and a 0.4% gain seen year-on-year which came in as expected.
NZD/USD traded down 0.16% to 0.6906. However, if the cigarette-and-tobacco excise levies are removed, CPI would have fallen 0.1% quarter-on-quarter and rose 0.2% year-on-year. The data are in line with the Reserve Bank of New Zealand's projections in its March Monetary Policy Statement, according to ASB chief economist Nick Tuffley.
"Overall, the data published by Stats NZ suggest that, although core inflation pressure is still low, they are starting to lift which may provide the RBNZ with confidence that inflation expectations will also stabilize and recover," Tuffley said.
Also ahead are minutes from the Reserve Bank of Australia for the previous meeting, as well as house prices data from China for March year-on-year.
The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was last quoted at 94.68.
In the week ahead the economic calendar is light, with the U.S. set to release housing sector data.
The European Central Bank will hold its monetary policy meeting on Thursday and the euro zone is to release data on private sector activity on Friday.
Last week, the dollar slid against the other major currencies on Friday following the release of lackluster U.S. economic reports, but the greenback still ended the week higher.
The drop in the dollar came after reports showing that U.S. industrial production fell more than expected in March and consumer sentiment deteriorated slightly this month.
The University of Michigan said the preliminary reading of its consumer sentiment index came in at 89.7 in April, down from 91.0 in March and lower than the 92.0 reading forecast by economists.
Another report showed that U.S. industrial output fell 0.6% in March, worse than the 0.1% decline economists had expected.
The reports underlined the view that the Federal Reserve is likely to stick to a cautious approach on future interest rates increases.