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Dollar Little Changed As Traders Await Data

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The dollar is turning in a mixed performance against its major rivals Tuesday afternoon, but is little changed overall. The lack of U.S. economic data is keeping some investors on the sidelines today. Traders can look forward to the release of private sector employment data and the ISM non-manufacturing index Wednesday morning, along with more data and key events in the coming days.

On the economic front, weekly jobless claims, international trade and factory orders are slated for Thursday morning, while the September jobs report is due to be released on Friday.

Traders are also looking forward to a speech by Federal Reserve Chair Janet Yellen Wednesday afternoon. Yellen is due to deliver the opening remarks at a conference in St. Louis. The minutes from the most recent meeting of the European Central Bank are also slated to be released on Thursday.

The dollar dropped to a low of $1.1772 against the Euro Tuesday, but has since rebounded to around $1.1745.

Eurozone producer prices grew the most in three months in August, data from Eurostat showed Tuesday. Producer prices increased 2.5 percent year-on-year in August, faster than the 2 percent rise seen in July. The annual rate exceeded the expected 2.3 percent and was the fastest since June 2017.

The buck climbed to over a 2-week high of $1.3221 against the pound sterling Tuesday, but has since eased back to around $1.3245.

The UK construction sector contracted for the first time in more than a year in September as a sustained fall in new work led to the reduction in overall business activity, data from IHS Markit showed Tuesday. The IHS Markit/Chartered Institute of Procurement & Supply construction Purchasing Managers' Index fell to 48.1 in September, while the reading was expected to remain unchanged at 51.1.

The greenback reached an early high of Y113.194 against the Japanese Yen Tuesday, but has since retreated to around Y112.850.

The monetary base in Japan was up 15.6 percent on year in September, the Bank of Japan said on Tuesday, coming in at 471.120 trillion yen. That missed expectations for 16.7 percent and was down from 16.3 percent in August.

Japan's consumer confidence improved more-than-expected in September, survey data from the Cabinet Office revealed Tuesday. The consumer sentiment index rose to 43.9 from 43.3 in August. The expected reading was 43.5. A similar high score was last seen in March.

by RTT Staff Writer

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