Investing.com - The dollar traded mixed against most major currencies on Tuesday as investors braced to learn the impact of Sandy, a former hurricane that churned ashore as a massive post-tropical system affecting the heavily populated Atlantic seaboard and U.S. markets.
In Asian trading on Tuesday, EUR/USD was up 0.04% at 1.2910.
Sandy chugged along as a hurricane before colliding with winter weather systems, which injected energy into the storm and expanded its wind field as it came ashore, knocking out power and flooding a large swath of the northeastern U.S. via heavy rains and deadly storm surge.
The storm kept foreign-exchange trading subdued, though the greenback did track sideways on news out of Europe.
Spanish retail sales fell 10.9% in September from the same month a year ago, much worse than market expectations for a decline of 6.2%, which dampened appetite for risk and gave the dollar some support.
Also in Europe, Prime Minister Mariano Rajoy criticized talk of giving a new European Union Commissioner greater say-so over eurozone national budgeting policies, saying such a move would be counterproductive, though he did say Madrid would considering seeking a bailout "if we think it is in the interest of Spaniards."
German inflation data gave the euro and other higher-yielding currencies support.
The German Federal Statistics Bureau said consumer price inflation accelerated at an annualized rate of 2.0% in October, in line with expectations and unchanged from September.
The dollar continued to jump in and out of positive territory as investors awaited news of the extent of the damage inflicted by Sandy, which comes just days before Friday's October jobs report and presidential elections next week.
The greenback, meanwhile, was up against the pound, with GBP/USD trading down 0.02% at 1.6032.
In the U.K., bank lending rose at its fastest pace over four years in September, while mortgage approvals came in stronger than expected as well.
The Bank of England reported that total net lending to individuals rose to GBP1.7 billion in September, after a decline of GBP0.3 billion in August, the strongest rise since February 2008.
Analysts had expected net lending to increase to GBP0.6 billion.
The U.K. monetary authority also reported that mortgage approvals rose to 50,024 in September, up from 47,921 in August, beating analysts' forecasts for 48,000.
The dollar was up against the yen on talk the Bank of Japan will expand its monetary stimulus program, with USD/JPY trading up 0.12% at 79.90 and down against the Swiss franc, with USD/CHF trading down 0.08% at 0.9360.
The dollar was mixed against its cousins in Canada, Australia and New Zealand, with USD/CAD trading unchanged at 1.0011, AUD/USD up 0.05% at 1.0337 and NZD/USD trading up 0.12% at 0.8202.
The dollar index, which tracks the performance of the greenback versus a basket of six other major currencies, was up 0.01% at 80.34.
Later Monday, the U.S. is to release data on consumer confidence, a leading indicator of economic health, as well as industry data on house price inflation, an important indicator of demand in the housing sector.
In Asian trading on Tuesday, EUR/USD was up 0.04% at 1.2910.
Sandy chugged along as a hurricane before colliding with winter weather systems, which injected energy into the storm and expanded its wind field as it came ashore, knocking out power and flooding a large swath of the northeastern U.S. via heavy rains and deadly storm surge.
The storm kept foreign-exchange trading subdued, though the greenback did track sideways on news out of Europe.
Spanish retail sales fell 10.9% in September from the same month a year ago, much worse than market expectations for a decline of 6.2%, which dampened appetite for risk and gave the dollar some support.
Also in Europe, Prime Minister Mariano Rajoy criticized talk of giving a new European Union Commissioner greater say-so over eurozone national budgeting policies, saying such a move would be counterproductive, though he did say Madrid would considering seeking a bailout "if we think it is in the interest of Spaniards."
German inflation data gave the euro and other higher-yielding currencies support.
The German Federal Statistics Bureau said consumer price inflation accelerated at an annualized rate of 2.0% in October, in line with expectations and unchanged from September.
The dollar continued to jump in and out of positive territory as investors awaited news of the extent of the damage inflicted by Sandy, which comes just days before Friday's October jobs report and presidential elections next week.
The greenback, meanwhile, was up against the pound, with GBP/USD trading down 0.02% at 1.6032.
In the U.K., bank lending rose at its fastest pace over four years in September, while mortgage approvals came in stronger than expected as well.
The Bank of England reported that total net lending to individuals rose to GBP1.7 billion in September, after a decline of GBP0.3 billion in August, the strongest rise since February 2008.
Analysts had expected net lending to increase to GBP0.6 billion.
The U.K. monetary authority also reported that mortgage approvals rose to 50,024 in September, up from 47,921 in August, beating analysts' forecasts for 48,000.
The dollar was up against the yen on talk the Bank of Japan will expand its monetary stimulus program, with USD/JPY trading up 0.12% at 79.90 and down against the Swiss franc, with USD/CHF trading down 0.08% at 0.9360.
The dollar was mixed against its cousins in Canada, Australia and New Zealand, with USD/CAD trading unchanged at 1.0011, AUD/USD up 0.05% at 1.0337 and NZD/USD trading up 0.12% at 0.8202.
The dollar index, which tracks the performance of the greenback versus a basket of six other major currencies, was up 0.01% at 80.34.
Later Monday, the U.S. is to release data on consumer confidence, a leading indicator of economic health, as well as industry data on house price inflation, an important indicator of demand in the housing sector.