31.08.201009:10:00UTC+00Dollar Wobbles Ahead Of Housing Data

The dollar was uncertain in cautious trading Tuesday morning in New York, staying near a 15-year low versus the yen amid concerns about the pace of the US recovery.

Today's flurry of data will give the markets a better sense of where the economy is headed -- toward a slow but steady recovery, or back into recession.

The S&P/Case-Shiller home price index for June will be released at 9.00 a.m. ET. Economists expect a 3.5% year-over-year increase in the 20-city composite house price index for June following 4.6% year-over-year rise in the previous month.

At 9.45 a.m. ET, the results of the Institute for Supply Management-Chicago's business survey for August will be tabled. Economists expect the business barometer index based on the survey to come in at 57.5 for the month.

At 10.00 a.m. ET, the Conference Board will release its consumer confidence report for August. Economists expect the report to show that consumer confidence index fell to 50.0 in August from 50.4 in July.

At 2.00 p.m. ET, the Federal Reserve will release the minutes of its August 10th Federal Open Market Committee meeting. Traders will be keen to read between the lines of the minutes to assess the health of the economy.

The dollar slumped back toward Y84 against the yen overnight, coming close to last week's 15-year low of 83.63 before finding its footing.

Against the euro, the dollar wobbled near $1.2675, having been unable to sustain much direction over the past few weeks.

The euro area's unemployment rate remained unchanged at 10% in July, in line with expectations, official figures showed on Tuesday.

The buck gained a bit of ground versus the sterling, improving to a weekly high of $1.5390 from $1.5460.

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