Dollar Struggles For Direction Ahead Of Key Economic Data
2024-10-23
3874
(fxcue news) - The U.S. dollar moved higher in the New York session on Tuesday but gave up gains and struggled for direction with investors digesting a mixed batch of economic data, and looked ahead for more for clues on the Federal Reserve's monetary policy move next week.
In economic releases today, data from the Labor Department showed job openings in the U.S. fell to 7.44 million in September from a downwardly revised 7.86 million in August. Economists expected job openings to edge down to 7.99 million from the 8.04 million originally reported for the previous month.
A report from the Conference Board said the consumer confidence index surged to 108.7 in October after tumbling to a revised 99.2 in September.
The Labor Department's monthly jobs report and the Federal Reserve's preferred readings on inflation are due later in the week.
The dollar index, which climbed to 104.64 in early New York session, dropped to 104.29, down marginally from the previous close.
Against the Euro, the dollar was roughly flat a little while ago, giving up early gains. At 1.0818, the dollar was down slightly from Monday's close. Against Pound Sterling, the dollar weakened to 1.3015 from 1.2973.
The dollar gained marginally against the Japanese currency at 153.36 yen. Against the Aussie, the dollar was up at 0.6559.
The Swiss franc weakened to 0.8676 a unit of U.S. dollar, while the Loonie eased to 1.3918 against the greenback.
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