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U.S. Dollar Roughly Flat Following Mixed Data
(RTTNews) - Following the pullback seen in the previous session, the value of the U.S. dollar has shown a lack of direction during trading on Tuesday.
The U.S. dollar index has spent the day bouncing back and forth across the unchanged line and is currently up just 0.02 points or less than a tenth of a percent at 112.06.
The greenback is currently trading at 149.23 yen compared to the 149.04 yen it fetched at the close of New York trading on Monday. Against the euro, the dollar is valued at $0.9858 compared to yesterday's $0.9841.
The lackluster performance seen over the course of the session comes as traders react to a mixed batch of U.S. economic data.
The Federal Reserve released a report showing industrial production increased by more than expected in the month of September.
The Fed said industrial production rose by 0.4 percent in September after edging down by a revised 0.1 percent in August.
Economists had expected industrial production to inch up by 0.1 percent compared to the 0.2 percent dip originally reported for the previous month.
Meanwhile, a separate report from the National Association of Home Builders showed a continued deterioration in U.S. homebuilder confidence in the month of October.
The report showed the NAHB/Wells Fargo Housing Market Index slumped to 38 in October from 46 in September. Economist had expected the index to dip to 43.
The housing market index declined for the tenth consecutive month, falling to its lowest reading since August 2012, with the exception of the onset of the pandemic in the spring of 2020.
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