Dollar Remains Subdued Ahead Of Crucial Data

(RTTNews) - The U.S. dollar turned in a mixed performance on Tuesday as traders awaited a slew of U.S. economic data, including reports on personal income & spending, consumer confidence, and eurozone inflation.

The Commerce Department's report on personal income and spending, which is scheduled to be released on Thursday, includes a reading on consumer price inflation said to be preferred by the Federal Reserve.

The inflation report along with speeches due from several Federal Reserve officials due this week could have a notable impact on the outlook for interest rates.

Data on consumer confidence, weekly jobless claims and manufacturing activity are likely to attract investor attention in the coming days.

In economic news today, a report released by the Commerce Department this morning showed durable goods orders plunged by 6.1% in January after falling by a revised 0.3% in December.

Economists had expected durable goods orders to tumble by 4.5% compared to the unchanged reading that had been reported for the previous month.

Meanwhile, the Conference Board released a report showing an unexpected deterioration in U.S. consumer confidence in the month of February.

The dollar index, which was down at 103.61 in the Asian session, climbed to 103.92 around mid-morning, and was last seen at 103.81, down slightly from the previous close.

Against the Euro, the dollar was up slightly at 1.0846. The dollar was flat at 1.2686 against Pound Sterling, and against the Japanese currency, it weakened to 150.49 yen.

The dollar is down slightly against the Aussie at 0.6544. The Swiss franc strengthened to 0.8786 against the dollar. The dollar climbed higher against the Loonie, fetching C$ 1.3527 a unit.