(RTTNews) - The dollar was holding its overnight gains versus the euro Tuesday morning in New York, ahead of another reading on the U.S. consumer and some talk from Federal Reserve officials.
The dollar snapped back to $1.4410 versus the euro, up more than a penny from yesterday's monthly low. The pair has been unable to sustain direction for the past few months, with traders expressing little enthusiasm for either currency.
Eurozone economic confidence declined sharply in August driven by a broad-based deterioration in sentiment across the sectors, a monthly survey from the European Commission showed Tuesday.
The economic confidence index fell to 98.3 from 103 in July.
The dollar steadied near $1.63 versus the sterling, up from $1.6450 in the previous session. There was little movement against the yen following a deluge of news from Japan.
Retail sales in Japan were up 0.7 percent on year in July, the Ministry of Economy, Trade and Industry said on Tuesday, standing at 11.798 trillion yen.
Japan posted a seasonally adjusted unemployment rate of 4.7 percent in July, the Ministry of Internal Affairs and Communications said on Tuesday - missing forecasts for a rate of 4.6 percent, which would have been unchanged from the June reading.
Looking ahead to the day's economic reports from the U.S., the Conference Board is scheduled to release its consumer confidence report for August at 10 am ET. The report is expected to show that the consumer confidence index fell to 57 in August after it rose 1.9 points to 59.5 in July.
The Federal Reserve is scheduled to release the minutes of its August 9th Federal Open Market Committee meeting at 2 PM ET. Traders may keenly watch the minutes to see if there were any sympathizers with the three dissenting members.
Additionally, the S&P/Case-Shiller home price index, which tracks monthly changes in the value of residential real estate in 20 metropolitan regions across the U.S., is scheduled to be released at 9 am. Economists expect a 4.4 percent year-over-year decline in the 20-city composite house price index for June.
Charles Evans, Federal Reserve Bank of Chicago, will speak on CNBC at 8 am ET.
Minneapolis Federal Reserve Bank President Narayana Kocherlakota is due to speak on the economic outlook and leverage to the National Association of State Treasurers in Bismarck, North Dakota, at 12:15 pm.
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