(MENAFN– ecpulse)
The U.S. dollar was little changed against majors after the release of upbeat durable goods data, ahead of the awaited consumer confidence figures.
U.S. durable goods orders climbed in July by the most on record after marking a 22.6 percent surge from a 2.7 percent increase in June. Analysts had predicted a 8.0 percent rise.
As of 14:00 GMT, a report may show that consumer confidence retreated to 88.8 in August from the previous of 90.9.
The focus will remain on U.S. data amid investors quest to know the timing at which the Fed would raise interest rates.
Fed minutes signaled may increase borrowing costs sooner than predicted, while Janet Yellen mentioned at a meeting of central bankers in Jackson Hole, Wyoming, that the U.S. labor market was recovering.
However, Yellen stated over the weekend that raising interest rate may take place next year.
The dollar index, which tracks the green currency’s movements versus a basket of major currencies, slipped from a near –one year high peak to hover around 82.57.
The EURUSD was little changed to trading around 1.3190 after setting a bottom of 1.3182 and a high of 1.3213.
The euro failed to rebound amid expectations the ECB would intervene to prevent inflation from falling further.
ECB President Mario Draghi said the bank is ready to use fresh stimulus should inflation outlook worsens.
A report due on Friday may show that euro area CPI estimate for the year ended August slipped to 0.3 percent from 0.4 percent in July.
The GBPUSD inched down, following yesterday’s rise, pushed down by worries regarding U.K. slow wage growth, below-target inflation and simmering external risks to recovery.
The USDJPY dropped for a second straight session to hit a low of 103.74, while it is meanwhile wobbling around 103.90.
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