Investing.com - The U.S. dollar was mixed against its major rivals during Tuesday’s Asian session following a disappointing July durable goods report released during Monday’s U.S. session.
In Asian trading Tuesday, EUR/USD rose 0.09% to 1.3382. Later Tuesday, the Ifo institute is to release its German business climate report, while the U.S. is to publish private-sector data on house price inflation as well as a closely watched report on consumer confidence.
Germany, the euro zone’s largest economy, is expected to show an unemployment rate of 6.8% for this month, the lowest since May 2012.
USD/JPY slid 0.38% to 98.15 while GBP/USD inched up 0.04% to 1.5581. Both the yen and sterling have recently been bolstered by traders looking for safe-haven alternatives to the greenback amid plunging emerging markets currencies.
Emerging markets such as India and Indonesia have seen their currencies plunge in recent weeks due in part to their widening current account deficits. That has bolstered the appeal of the yen because Japan does not need foreign capital to fund its deficits.
USD/CHF dropped 0.22% to 0.9211 while USD/CAD rose 0.12% to 1.0515. In U.S. economic news out Monday, the Commerce Department said durable goods orders fell 7.3% last month following a 3.9% rise in June. Economists expected a July decline of 4%. Non-defense durable goods orders fell 3.3%, the biggest monthly drop since February. Core capital goods orders rose by a revised 1.3% in June.
Recently, weak U.S. data points have stoked speculation the Federal Reserve will not taper its bond-buying imminently, though the minutes from the central bank’s July meeting released last week revealed there is some consensus for tapering later this year.
Amid increasing volatility, AUD/USD slid 0.52% to 0.8982. One-month volatility for the Aussie has risen 35 basis points this month to 12.64 percent Monday, set for the highest close since July 16, according to Bloomberg.
NZD/USD lost 0.43% to 0.7819 while the U.S. Dollar Index fell 0.06% to 81.37.
In Asian trading Tuesday, EUR/USD rose 0.09% to 1.3382. Later Tuesday, the Ifo institute is to release its German business climate report, while the U.S. is to publish private-sector data on house price inflation as well as a closely watched report on consumer confidence.
Germany, the euro zone’s largest economy, is expected to show an unemployment rate of 6.8% for this month, the lowest since May 2012.
USD/JPY slid 0.38% to 98.15 while GBP/USD inched up 0.04% to 1.5581. Both the yen and sterling have recently been bolstered by traders looking for safe-haven alternatives to the greenback amid plunging emerging markets currencies.
Emerging markets such as India and Indonesia have seen their currencies plunge in recent weeks due in part to their widening current account deficits. That has bolstered the appeal of the yen because Japan does not need foreign capital to fund its deficits.
USD/CHF dropped 0.22% to 0.9211 while USD/CAD rose 0.12% to 1.0515. In U.S. economic news out Monday, the Commerce Department said durable goods orders fell 7.3% last month following a 3.9% rise in June. Economists expected a July decline of 4%. Non-defense durable goods orders fell 3.3%, the biggest monthly drop since February. Core capital goods orders rose by a revised 1.3% in June.
Recently, weak U.S. data points have stoked speculation the Federal Reserve will not taper its bond-buying imminently, though the minutes from the central bank’s July meeting released last week revealed there is some consensus for tapering later this year.
Amid increasing volatility, AUD/USD slid 0.52% to 0.8982. One-month volatility for the Aussie has risen 35 basis points this month to 12.64 percent Monday, set for the highest close since July 16, according to Bloomberg.
NZD/USD lost 0.43% to 0.7819 while the U.S. Dollar Index fell 0.06% to 81.37.