The dollar is trading slightly higher against all of its major rivals Monday afternoon. There has been no U.S. economic data to drive trading today and there has been little global economic data. However, investors are preparing for a large number of U.S. economic reports in the coming days.
The producer price index and retail sales are among the reports due to be released tomorrow, while the consumer price index and industrial production are slated for Wednesday. Weekly jobless claims are due out Thursday and consumer sentiment is scheduled for the end of the week.
Investors will also be watching for the results of the FOMC meeting this week. The meeting will begin on Tuesday and wrap up Wednesday afternoon. The Fed is widely expected to leave interest rates unchanged, but traders are likely to pay close attention to the wording of the accompanying statement.
The dollar has climbed to around $1.1095 against the Euro this afternoon, from around $1.1150 this morning.
Eurozone industrial production rebounded at the fastest pace in more than six years, signaling that the manufacturing sector weathered the global slowdown at the start of the year.
Industrial production grew 2.1 percent month-on-month, partly reversing a revised 0.5 percent fall in December, data from Eurostat revealed Monday.
Production growth was the fastest since September 2009, when output climbed 2.3 percent. Economists had forecast a 1.7 percent rise for January after the initially estimated 1 percent decrease.
The buck has risen to around $1.43 against the pound sterling Monday afternoon, from around $1.4380 this morning.
The greenback is trading around Y113.790 against the Japanese Yen this afternoon, which is close to the unchanged level. The U.S. currency has been trading between Y114 and Y113.500 today.
Core machine orders in Japan surged 15.0 percent on month in January, the Cabinet Office said on Monday, coming in at 934.7 billion yen. The headline figure far exceeded forecasts for an increase of 1.9 percent following the downwardly revised 1.0 percent gain in December (originally 4.2 percent).
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