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Dollar steady to higher ahead of U.S. data

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Shutterstock photo - The U.S. dollar was steady to higher against the other major currencies on Friday, as markets awaited the release of U.S. economic reports later in the day, amid growing uncertainty over whether the Federal Reserve will taper its stimulus program later this month.

During European morning trade, the dollar was steady against the euro, with EUR/USD easing 0.06% to 1.3291.

The euro remained under pressure as euro zone finance ministers were meeting in Vilnius, Lithuania, to discuss further reforms to strengthen the region's banking sector.

On Thursday, the European Parliament approved legislation to allow the European Central Bank to oversee banks in the 17 nation currency bloc. ECB President Mario Draghi said the vote was "a real step forward" in establishing a banking union.

The greenback was also steady against the pound, with GBP/USD inching up 0.03% to 1.5810.

Elsewhere, the greenback edged higher against the yen and the Swiss franc, with USD/JPY adding 0.10% to trade at 99.65, and with USD/CHF rising 0.07% to 0.9312.

In Switzerland, official data showed that producer price inflation rose 0.2% in August, in line with expectations, after a flat reading the previous month.

The greenback was mixed to higher against its Canadian, Australian and New Zealand counterparts, with USD/CAD edging up 0.06% to 1.0329, AUD/USD slipping 0.24% to 0.9249 and NZD/USD gaining 0.10% to 0.8146.

Data earlier showed that manufacuring the business manufacturing index for New Zealand slipped to 57.5 last month, from a reading of 59.5 in July.

The dollar index, which tracks the performance of the greenback versus a basket of six other major currencies, was up 0.11% to 81.78.

In addition, concerns over Syria persisted as U.S. Secretary of State John Kerry and Russian Foreign Minister Sergei Lavrov held open talks on disarming Syria's chemical weapons programs, on Thursday.

However, differences emerged at the outset of the negotiations. Commenting on the talks, Kerry said pledges of Syria's regime to give up its chemical arms were "simply not enough."

Later in the day, the U.S. was to release reports on retail sales and producer price inflation, as well as preliminary data from the University of Michigan on consumer sentiment. - offers an extensive set of professional tools for the financial markets.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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