Investing.com - Investing.com - The dollar traded largely lower against most major currencies on Monday after a widely-watched home sales report disappointed investors, though many were on the sidelines anyway awaiting the Federal Reserve's July statement on Wednesday and the July jobs report on Friday.
In U.S. trading on Monday, EUR/USD was up 0.02% at 1.3433.
The dollar slid on Monday after the National Association of Realtors reported that U.S. pending home sales fell 1.1% in June, disappointing expectations for a 0.5% gain.
"Activity is notably higher than earlier this year as prices have moderated and inventory levels have improved," National Association of Realtors chief economist Lawrence Yun said in a statement.
"However, supply shortages still exist in parts of the country, wages are flat, and tight credit conditions are deterring a higher number of potential buyers from fully taking advantage of lower interest rates."
The data sent investors selling the greenback for profits ahead of the Federal Reserve's policy statement on Wednesday and the July jobs report due out on Friday.
The dollar firmed last week on upbeat durable goods, weekly jobless claims and new home sales reports, though Monday's home sales data prompted investors to take a breather with the U.S. currency.
Uncertainty as to how much time will pass between rate hikes and a Fed decision to close its bond-buying stimulus program kept many investors waiting on the sidelines until market-moving news hits the wire later this week.
Investors were also awaiting final data on U.S. second-quarter growth on Wednesday.
Geopolitical concerns pressured the greenback lower.
News that the U.S. and Western Europe are planning to slap fresh sanctions on Russia for its alleged intervention in Ukraine by supporting separatists stoked concerns that geopolitical issues will drag on global recovery and prompt the Federal Reserve and other central banks to hold off on tightening policy.
For its part, the euro came under pressure of its own, as European Central Bank officials have said they will considering loosening policy further to ensure recovery stays on track.
On Friday, the Ifo Institute for Economic Research reported that its German business climate index fell to a nine-month low of 108.0 this month, down from 109.7 in June. Analysts had expected the index to tick down to 109.4 in July.
A separate report showed that the Gfk German consumer climate index rose to a seven-and-a-half-year high of 9.0 this month, up from a reading of 8.9 in June. Analysts had expected the index to remain unchanged in July.
The dollar was up against the yen, with USD/JPY up 0.04% at 101.87, and down against the Swiss franc, with USD/CHF down 0.05% at 0.9044.
The greenback was down against the pound, with GBP/USD up 0.04% at 1.6984.
The pound continued to see support after preliminary data on Friday revealed that the gross domestic product rose 0.8% in the second quarter, in line with market expectations, which gave the pound some support.
The dollar was mixed against its cousins in Canada, Australia and New Zealand, with USD/CAD down 0.10% at 1.0802, AUD/USD up 0.15% at 0.9409 and NZD/USD down 0.10% at 0.8546.
The US Dollar Index, which tracks the performance of the greenback versus a basket of six other major currencies, was down 0.04% at 81.12.
On Tuesday, the U.S. is to publish reports on house price inflation and consumer confidence.
Investing.com offers an extensive set of professional tools for the financial markets.
Read more News on Investing.com and download the new Investing.com Stocks & Forex App for Android!
