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Forex News: Dollar Little Changed As Investors Await Data

Dollar Little Changed As Investors Await Data

04/03/2018 - 14:47:00 (RTTNews)

(RTTNews) - The dollar is turning in a mixed performance against its major rivals Tuesday afternoon, but remains little changed overall. The lack of U.S. economic data this morning appears to be keeping some traders on the sidelines.

However, traders are looking forward to the release of several important economic reports Wednesday morning. Private sector employment, factory orders and the ISM non-manufacturing index are all slated for release Wednesday. Investors will be paying close attention to the private sector employment report ahead of Friday's all important U.S. jobs report.

The dollar has climbed to nearly a 2-week high of $1.2265 against the Euro Tuesday afternoon, from an early low of $1.2335.

The euro area manufacturing activity grew at the slowest pace in eight months in March, final data from IHS Markit showed Tuesday. The final manufacturing Purchasing Managers' Index fell to 56.6 in March from 58.6 in February. The score came in line with flash estimate.

Germany's retail sales decreased for the third straight month in February, Destatis reported Tuesday. Retail sales fell unexpectedly by 0.7 percent month-on-month in February, bigger than the 0.3 percent decrease seen in January. This was the third consecutive decline in sales. Sales were expected to grow 0.8 percent.

The buck reached an early high of $1.4024 against the pound sterling Tuesday, but has since eased back to around $1.4050.

The British manufacturing sector maintained a steady growth in March, but the pace of expansion for the first quarter as a whole was the weakest in a year, survey results from IHS Markit showed Tuesday. The IHS Markit/Chartered Institute of Procurement & Supply manufacturing Purchasing Managers' Index rose slightly to 55.1 in March from 55.0 in February. The score was forecast to fall to 54.7.

The greenback has risen to around Y106.445 against the Japanese Yen this afternoon, from an early low of Y105.686.

The monetary base in Japan was up 9.1 percent on year in March, the Bank of Japan said on Tuesday - coming in at 475.932 trillion yen. That follows the 9.4 percent jump in Februar

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