2016.10.1802:57:00UTC+00U.S. Dollar Slides Against Majors

The U.S. dollar weakened against the other major currencies in the Asian session on Tuesday, in the wake of soft manufacturing data triggering concerns of a possible interest-rate hike before year's end.

According to a report released by the Federal Reserve Bank of New York on Monday, business activity in the New York manufacturing sector has unexpectedly seen a continued decline in October.

The New York Fed said its general business conditions index slid to a negative 6.8 in October from a negative 2.0 in September. Negative reading indicates a contraction in activity.

Meanwhile, the Asian stock markets rose as crude oil prices rose above the $50 mark in Asian trades. Crude for November delivery is currently up 0.27 percent or $ 50.21 per barrel. The crude oil prices slipped amid signs that Iran will pick up the slack when Saudi Arabia and Russia curb output. Traders expect the oil market not likely to be oversupplied.

Concerns about the Chinese economy and anxiety ahead of the third U.S. presidential debate on Wednesday served to keep a lid on overall gains.

Monday, the U.S. dollar showed mixed trading against its major rivals. While the greenback rose against the euro, the pound, and the Swiss franc, it held steady against the yen.

In the Asian trading, the U.S. dollar fell to a 5-day low of 1.2272 against the pound, from yesterday's closing value of 1.2182. The greenback is likely to find support around the 1.26 region.

Against the euro, the yen and the Swiss franc, the greenback dropped to 4-day lows of 1.1026, 103.68 and 0.9866 from yesterday's closing quotes of 1.0998, 103.88 and 0.9889, respectively. If the greenback extends its downtrend, it is likely to find support around 1.11 against the euro, 102.00 against the yen, and 0.97 against the franc.

Looking ahead, U.K. consumer price, producer price, retail price indexes for September and house price index for August are due to be released at 4:30 am ET.

In the New York session, Canada manufacturing sales data for August, U.S. CPI data for September and U.S. NAHB housing market index for October are slated for release.

At 8:00 am ET, New Zealand's Global Dairy Trade auction is due to be held.

At the same time, European Parliament's Brexit negotiator Guy Verhofstadt is expected to speak at conference on future of EU budget, reform of EU institutional set-up, in Brussels.

At 9:00 am ET, European Commission First Vice-President Frans Timmermans is scheduled to speak at the General Affairs Council meeting, in Luxembourg.