Shutterstock photo
Markets

Forex - Dollar mostly higher as traders await bank comments

Shutterstock photo

Shutterstock photo

Investing.com - The U.S. dollar is spotted mostly higher against its major rivals during Tuesday's Asian session as traders await a deluge of economic data points and central bank commentary later today.

In Asian trading Tuesday, EUR/USD fell 0.04% to 1.3347. While last week's spate of European economic data is perhaps one reason the euro is lower against the greenback, political concerns may be factoring into the equation as well.

Italy, the euro zone's third-largest economy, holds elections on February 24 and 25 and fears are rising that tight polls could lead to a hung parliament. A coalition split between Pier Luigi Bersani and current Prime Minister Mario Monti is believed to be the most likely outcome, but a surprise victory by former Prime Minister Silvio Berlusconi could roil Italian equities and the euro.

Later today, the ZEW Institute is to release its closely watched index of German economic sentiment, a leading indicator of economic health.

USD/JPY is lower by 0.07% at 93.90, a day after the yen tumbled against the dollar and euro. Today's action might be a case of some profit-taking in the pair. Later today, the Bank of Japan will release monetary policy meeting minutes from its latest meeting.

Speaking of central bank meeting minutes, the Reserve Bank of Australia publishes minutes from its February 5 meeting later today. AUD/USD is higher by 0.13% at 1.0321.

Elsewhere, GBP/USD is off 0.01% at 1.5466 while USD//CHF is up 0.04% at 0.9239. With oil prices trading lower, USD/CAD is up 0.03% at 1.0112. Later today, Canada releases official data on wholesale sales, a leading indicator of consumer spending, as well as data on foreign securities purchases.

NZD/USD is tumbling 0.40% to 0.8420 ahead of New Zealand's publication of producer price inflation later today. The U.S. Dollar Index is higher by 0.04% to 80.75.

Investing.com - Investing.com offers an extensive set of professional tools for the Forex, Commodities, Futures and the Stock Market including real-time data streaming, a comprehensive economic calendar, as well as financial news and technical & fundamental analysis by in-house experts.

Read more News on Investing.com or Follow us on Twitter at @ Newsinvesting

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


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

Other Topics

ForEx