U.S. data on home prices, consumer confidence due later
By Polya Lesova, MarketWatch
LONDON (MarketWatch) — The U.S. dollar traded marginally lower against other major currencies Tuesday, as global stock markets rallied on growing speculation that euro-zone officials will take decisive action to tackle the region’s debt crisis.
The dollar index DXY -.00% , which tracks the performance of the greenback against a basket of other major currencies, traded at 78.177, down from 78.213 in late-afternoon trading in New York Monday.
The euro, however, was little changed against the greenback, trading at $1.3498, compared with $1.3497 late Monday.
The European currency remained underpinned by speculation that euro-zone officials are working on a plan to boost the firepower of the region’s bailout fund.
In Berlin later Tuesday, German Chancellor Angela Merkel will meet with Greek Prime Minister George Papandreou to discuss the debt crisis.
European and Asian equity markets surged, and U.S. stock futures pointed to another day of gains on Wall Street. Read more about U.S. stock futures.
On the U.S. economic front, the Case-Shiller home-price index for July is due at 9 a.m. Eastern time, to be followed by data on consumer confidence for September at 10 a.m. Eastern.
In other currency trading, the dollar bought 76.46 Japanese yen, compared with ¥76.62 late Monday.
The British pound was little changed at $1.5537, compared with $1.5541.
Polya Lesova is chief of MarketWatch’s London bureau.
