WASHINGTON (dpa-AFX) - The U.S. dollar turned in a mixed performance against its major counterparts on Tuesday, with traders reacting to the updates on the Omicron variant of the coronavirus and the latest batch of economic data from across the world.
The Commerce Department released a report showing the U.S. trade deficit narrowed significantly in the month of October amid a spike in the value of exports.
The report said the trade deficit decreased to $67.1 billion in October from a revised $81.4 billion in September. Economists had expected the deficit to narrow to $67.5 billion from the $80.9 billion originally reported for the previous month.
The narrower trade deficit came as the value of exports soared by 8.1 percent to $223.6 billion, while the value of imports climbed by 0.9 percent to $290.7 billion.
The dollar index, which climbed to 96.59 in the European session, gave up gains and was down marginally at 96.31 a little while ago.
Against the Euro, the dollar is firmer by about 0.12% at $1.1273. The euro area economy expanded as initially estimated in the third quarter largely driven by household spending, estimates released by Eurostat showed. Gross domestic product grew at a steady pace of 2.2% in the third quarter. The estimate for the second quarter was revised up from 2.1% and the third quarter rate was confirmed by Eurostat.
On a yearly basis, GDP advanced 3.9% instead of 3.7% expansion estimated previously.
The dollar is trading at $1.3243 against Pound Sterling, gaining from $1.3264.
The dollar is trading at 113.55 yen, up slightly from the previous close of 113.50 yen.
Against the Aussie, the dollar is trading at 0.7119, easing from $0.7050. Australia's central bank left its monetary policy unchanged, as widely expected on Tuesday, and assessed that the new coronavirus variant Omicron is unlikely to derail the recovery.
The policy board of the Reserve Bank of Australia headed by Governor Philip Lowe decided to leave its cash rate unchanged at a record low of 0.10%.
The Swiss franc is slightly up at CHF 0.9248 a dollar.
Meanwhile, the Loonie has strengthened to C$1.2640 against the dollar, firming from C$1.2759 as crude oil prices rose sharply amid optimism about outlook for energy demand.
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