WASHINGTON (dpa-AFX) - The dollar got off to a weak start to the new trading week, but has since recovered and is now up slightly against all of its major rivals. Economic data was on the light side this morning, but the one U.S. report that investors received came in better than anticipated.
A report released by the Federal Reserve Bank of New York on Monday said manufacturing firms in New York reported that business activity continued to expand strongly in the month of October. The New York Fed said its general business conditions index climbed to 30.2 in October from 24.4 in September, with a positive reading indicating growth in regional manufacturing activity.
The increase came as a surprise to economists, who had expected the New York manufacturing index to drop to 20.7.
Traders are looking forward to the release of industrial production Tuesday morning, along with homebuilder confidence and import and export prices.
The dollar slipped to a low of $1.1819 against the Euro Monday, but has since bounced back to around $1.1790.
The euro area trade surplus increased in August on exports, data from Eurostat showed Monday. The trade surplus rose to a seasonally adjusted EUR 21.6 billion in August from EUR 17.9 billion in July.
Germany's wholesale price inflation rose to a five-month high in September, data from Destatis revealed Monday. Wholesale prices advanced 3.4 percent year-on-year in September, following a 3.2 percent rise in August. This was the fastest increase since April, when prices climbed 4.7 percent.
The buck slid to an early low of $1.3311 against the pound sterling Monday, but has since rebounded to around $1.3235.
The average asking price for a house in the United Kingdom was up 1.1 percent on month in October, property tracking website Rightmove said on Monday. That follows the 1.2 percent monthly decline in September.
The greenback dipped to a low of Y111.648 against the Japanese Yen Monday morning, but has since climbed to around Y112.140.
Japan's industrial production increased less than initially estimated in August, latest figures from the Ministry of Economy, Trade and Industry showed on Monday. Industrial production rose a seasonally adjusted 2.0 percent monthly in August instead of a 2.1 percent climb reported earlier. This was followed by a 0.8 percent drop in the previous month.
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