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Forex News: Dollar Little Changed As Investors Await Economic Data

Dollar Little Changed As Investors Await Economic Data

10/24/2017 - 14:53:00 (RTTNews)

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

However, things will begin to pick up on the economic front Wednesday morning, when durable goods order and new home sales are slated for release. Weekly jobless claims, international trade and pending home sales will follow on Thursday, while GDP and consumer sentiment will close on the week.

Traders are also looking forward to the release of the European Central Bank's monetary policy decision on Thursday.

The dollar has slipped to around $1.1770 against the Euro Tuesday afternoon, from an early high of $1.1742.

The euro area government debt to gross domestic product decreased slightly in the second quarter, Eurostat reported Tuesday. The government debt to GDP ratio fell slightly to 89.1 percent in the second quarter from 89.2 percent in the first quarter.

The euro area economy expanded strongly at the start of the fourth quarter on another marked improvement in new orders, but the pace of growth slowed from September.

The flash composite Purchasing Managers' Index fell more-than-expected to 55.9 in October from 56.7 a month ago, flash survey data from IHS Markit showed Tuesday. The score was forecast to drop marginally to 56.5.

Germany's private sector grew at a slower pace in October, flash survey results from IHS Markit showed Tuesday. The flash composite output index fell to 56.9 in October from September's 77-month high of 57.7. Nonetheless, this was one of the highest readings seen since 2011.

France's private sector activity expanded at the fastest pace in nearly six-and-a-half years in October, survey figures from IHS Markit showed Tuesday. The composite output index climbed to 57.5 in October from 57.1 in September.

French manufacturing confidence held steady at its highest level since late 2007, survey results from the statistical office Insee showed Tuesday. The manufacturing confidence index came in at 111.0 in October, the same reading as in September, which was revised up from 110.0.

The buck has climbed to around $1.3125 against the pound sterling Tuesday afternoon, from an early low of $1.3227.

The greenback reached a high of Y114.018 against the Japanese Yen this afternoon, but has since eased back to around Y113.700.

The manufacturing sector in Japan continued to expand in October, albeit at a slightly slower pace, the latest survey from Nikkei revealed on Tuesday with a manufacturing PMI score of 52.5. That's down from 52.9 in September, although it remains above the boom-or-bust line of 50 that separates expansion from contraction.

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