The dollar is doing nothing

The dollar is doing nothing on Tuesday ahead of several data points.

The US dollar index was little changed at 97.05 around 8:13 a.m. ET.

“The US dollar cannot get out of its own way, it seems. With a light economic schedule, there is little to offset the continued drumbeat of troubling political developments,” Marc Chandler, the global head of currency strategy at Brown Brothers Harriman, said.

US Market PMIs will be released at 9:45 a.m. ET, and new-home sales will cross the wires at 10 a.m. ET.

As for the rest of the world, here’s the scoreboard as of 8:17 a.m. ET:

  • The euro was down by 0.2% at 1.1217 against the dollar after Flash eurozone PMI held at a 6-year high of 56.8 in May. “Job creation also perked up to one of the strongest recorded over the past decade amid improved optimism about future prospects,” IHS Markit said. Separately, Greece still doesn’t have a deal.
  • The British pound was down by 0.2% at 1.2973 against the dollar following the suspected terrorist attack in Manchester. “Investors are assumedly shaken by the events in Manchester yesterday evening, combined with the continued effects of the Tories’ election wobble,” Connor Campbell, a financial analyst at SpreadEx, said in an email.
  • The Russian ruble was up by 0.3% at 56.4727 per dollar, while Brent crude oil, the international benchmark, is down by 0.1% at $US53.90 per barrel.
  • The Australian dollar was higher by 0.4% at .7509 per dollar.

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