Dollar Demand

Dollar Demand Waned On Tuesday After US Trade Deficit Unexpectedly Shrank In June

News and Events:

The Dollar slipped against the Euro on Tuesday, breaking a five-session rally as investors locked in profits ahead of key economic data later in the week.

EurUsd has already dropped 4.11% this month with help from a sell-off in Oil prices and growing fears economies elsewhere may slow at a faster pace than in the United States.

Oil prices traded down 1.31% on Tuesday at $113 per barrel, after dropping more than $35 since a record 145.45 high hit in July.

Data on Tuesday showed the US trade deficit shrank unexpectedly in June to $56.8b, down from a revised $59.2. But losses in the Dollar were limited as investors awaited data on US retail sales and consumer prices for July, due out Wednesday and Thursday.

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