Forex: Tuesday's review

The yen and the Swiss franc rose against all of their most-traded counterparts as investors sought the currencies’ relative safety amid declines in equities and commodities.
The dollar erased gains against the euro as stocks trimmed losses after a report showed U.S. factory orders rose more than forecast. Canada’s dollar fluctuated after rising earlier as Prime Minister Stephen Harper’s Conservatives won a majority of seats in Parliament for the first time.
The dollar earlier strengthened from a 16-month low against the euro on speculation the European currency’s gains this year may not be sustained.
Orders placed with U.S. factories rose 3 percent in March, a fifth consecutive increase, the Commerce Department said today. The median forecast of economists projected a 2 percent increase.
The pound was the worst performer among major currencies, dropping as an index of U.K. manufacturing growth declined. Markit Economics and the Chartered Institute of Purchasing and Supply index fell to 54.6 in April from 56.7 in March.
Bank of England Governor Mervyn King said high debt levels pose “massive” economic challenges that would be exacerbated by increased long-term interest rates.
Bank of England policy makers are split four ways over monetary policy. The central bank probably will leave the key interest rate at a record-low 0.5 percent at the next rate meeting on May 5.

EUR/USD: positions of pair on results of yesterday's session practically haven't changed. The pair the beginning also finished session in around $1.4830.
GBP/USD: on results of yesterday's session the pair decreased below a mark $1.6500.
USD/JPY: the pair decreased in around Y80.90.

US data starts at 1215GMT with the April ADP National Employment Report, which is followed at 1300GMT by the US Treasury quarterly refunding announcement and then at 1400GMT by the ISM non-manufacturing index, which is expected to fall to a reading of 57.0 in April after the decline in March. The weekly EIA Crude Oil Stocks data then follows at 1430GMT.