A microprocessor assigns a data transaction type to each instruction. The data transaction type is based upon the encoding of the instruction, and indicates an access mode for memory operations corresponding to the instruction. The access mode may, for example, specify caching and prefetching characteristics for the memory operation. The access mode for each data transaction type is selected to enhance the speed of access by the microprocessor to the data, or to enhance the overall cache and prefetching efficiency of the microprocessor by inhibiting caching and/or prefetching for those memory operations. Instead of relying on data memory access patterns and overall program behavior to determine caching and prefetching operations, these operations are determined on an instruction-by-instruction basis. Additionally, the data transaction types assigned to different instruction encodings may be revealed to program developers. Program developers may use the instruction encodings (and instruction encodings which are assigned to a nil data transaction type causing a default access mode) to optimize use of processor resources during program execution.