The dollar is turning in a mixed performance against its major rivals Monday afternoon. The buck is down against its major European rivals, but has turned positive against the Japanese Yen.
On a light day for U.S. economic data, trader are keeping a close eye on the high-level trade talks between the U.S. and China in Beijing.
Deputy U.S. Trade Representative Jeffrey Gerrish is leading the U.S. team at the two-day meeting beginning today, with a spokesman for China's Foreign Ministry predicting "positive and constructive discussions."
A report released by the Institute for Supply Management on Monday showed growth in U.S. service sector activity slowed by more than anticipated in the month of December. The ISM said its non-manufacturing index dropped to 57.6 in December after inching up to 60.7 in November.
The dollar has dropped to around $1.1475 against the Euro Monday afternoon, from an early high of $1.1392.
Eurozone retail sales grew for a second straight month in November and at a faster-than-expected pace, supported by lower oil prices and rising wages.
Retail sales rose a seasonally adjusted 0.6 percent from October, when sales increased at the same pace, figures from Eurostat showed Monday. October sales growth was earlier reported as 0.3 percent. Economists had forecast 0.2 percent growth.
Eurozone's investor confidence deteriorated for a fifth straight month in January to its lowest level in over four years, but the easing was less severe than expected, survey data from the behavioral research institute Sentix showed on Monday.
The Sentix investor confidence index dropped to -1.5 from -0.3, marking the lowest level since December 2014. Economists had forecast a score of -2 for January.
Germany's manufacturing new orders decreased for the first time in four months in November and the fall was worse than expected, preliminary data from Destatis showed on Monday.
Factory orders decreased a calendar and seasonally adjusted 1 percent from October, when they grew 0.2 percent, revised from 0.3 percent reported earlier. Economists had forecast a modest decline of 0.1 percent.
Germany's retail sales grew at the fastest pace in seven months in November, exceeding economists' expectations, preliminary data from Destatis showed on Monday.
Retail sales rose a calendar and seasonally adjusted 1.4 percent from October, when they edged up 0.1 percent, revised from a 0.3 percent fall. Economists had expected a 0.4 percent increase.
Germany's construction sector expanded at the fastest pace in seven months in December, led by strong growth in housing activity.
The German Construction Purchasing Managers' Index, or PMI, rose to 53.3 from November's 51.3, survey data from IHS Markit showed on Monday.
The buck has slipped to around $1.2775 against the pound sterling Monday afternoon, from an early high of $1.2708.
The greenback slid to an early low of Y108.019 against the Japanese Yen Monday, but has since rebounded to around Y108.575.
The services sector in Japan continued to expand in December, albeit at a slower pace, the latest survey from Nikkei revealed on Monday with a PMI score of 51.0. That's down from 52.3 in November, although it remains above the boom-of-bust line of 50 that separates expansion from contraction.
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