The dollar is up slightly against all of its major rivals Monday afternoon. Economic data was on the light side this morning, but investors are looking forward to a loaded calendar of data this week.
Consumer confidence data is set for Tuesday morning, while private sector employment will follow on Wednesday. Weekly jobless claims and the ISM manufacturing index are slated for Thursday, while the jobs report for October is set for Friday.
A report released by the Commerce Department on Monday showed personal income in the U.S. rose by slightly less than expected in the month of September, although the report also showed personal spending increased in line with estimates.
The report said personal income edged up by 0.2 percent in September after climbing by an upwardly revised 0.4 percent in August.
Economists had expected income to rise by 0.3 percent, matching the increase originally reported for the previous month.
Meanwhile, the Commerce Department said personal spending rose by 0.4 percent in September after increasing by an upwardly revised 0.5 percent in August.
Spending had been expected to advance by 0.4 percent following the 0.3 percent growth originally reported for the previous month.
On Sunday, German Chancellor Angela Merkel’s coalition government suffered a beating in a second key regional election in as many weeks. Merkel will reportedly not seek re-election for party chief, but wants to remain as chancellor.
The dollar slid to an early low of $1.1416 against the Euro Monday, but has since rebounded to around $1.1390.
UK mortgage approvals declined in September, figures from Bank of England showed Monday. The number of housing loan approvals fell to 65,269 in September from 66,101 in August. Nonetheless, this was above the expected level was 64,700.
The buck dipped to a low of $1.2825 against the pound sterling Monday morning, but has since bounced back to around $1.28.
The greenback has climbed to around Y112.400 against the Japanese Yen this afternoon, from an early low of Y111.776.
Japan’s retail sales dropped for the first time in four months in September, the Ministry of Economy, Trade and Industry reported Monday. Retail sales fell 0.2 percent month-on-month, in line with expectations but reversed a 0.9 percent rise in August.