Investing.com - The Australian dollar was a tad weaker Tuesday ahead of a heavy data set in Asia, including the latest monthly review of Australia's cash rate.
The Reserve Bank of Australia's monthly monetary policy review is due at 1430 Sydney time (0430 GMT) with a stable 2.5% cash rate expected.
AUD/USD held at 0.9243, down 0.05%, early in Asia.
In New Zealand first quarter terms of trade rose 1.8%, below an expected gain of 1.9% expected. NZD/USD traded at 0.8443 after the data, down 0.12%.
Japan's Monetary Base data for May comes at 0850 Tokyo (2350 GMT). USD/JPY traded at 102.41, up 0.01%, ahead of the data.
Australian data arrives at 1130 Sydney (0130 GMT), with retail sales in April the most watched and an expected gain of 0.2%. First quarter data for the current account is also due with a deficit of A$7.0 billion expected.
The Chinese Non-manufacturing PMI, also for May (0900 Beijing, 0100 GMT), which was last at 54.8 is followed by the HSBC Manufacturing PMI May final at 0145 GMT, with 49.7 in the "flash" reading and 48.1 the final in April.
India's Central Bank also holds its review meeting for the first time since the general election brought the opposition BJP to power.
Overnight, the dollar traded higher against most major currencies as investors applauded an upbeat U.S. manufacturing gauge despite two revisions to the index that confused markets, while expectations for the European Central Bank to loosen policy also firmed the greenback.
In the U.S., the Institute of Supply Management reported that its manufacturing purchasing managers' index for May ticked down to 53.2 from 54.9 a month earlier before correcting it two times, once to 56.0 and a second time to 55.4.
While the corrections confused markets, the dollar remained higher, as any figure over 50 signifies expansion.
Elsewhere, the single currency came under pressure on expectations that the European Central Bank will take steps to tackle low inflation rates that are threatening an already fragile recovery in the single currency bloc, including cuts to all interest rates.
The European Central Bank will decide on interest rates and monetary policy on Thursday.
The US Dollar Index, which tracks the performance of the greenback versus a basket of six other major currencies, was down 0.01% at 80.68.
On Tuesday, the U.S. is to produce data on factory orders.
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