FOREX: Tuesday's review

Data released:
06:58     France     PMI (August) flash    49.3    49.7    50.5
06:58     France     PMI services (August) flash    56.1    53.9    54.2
07:28     Germany     PMI (August) flash    52.0    51.0    52.0
07:28     Germany     PMI services (August) flash    50.4    52.0    52.9
07:58     EU(17)     PMI (August) flash    49.7    49.5    50.4
07:58     EU(17)     PMI services (August) flash    51.5    51.0    51.6
09:00     Germany     ZEW economic expectations index (August)    -37.6    -25.0    -15.1
10:00     UK     CBI industrial order books balance (August)    +1%    -13%    -10%
10:00     UK     CBI industrial output balance (August)    +13%    -    6%
12:30     Canada     Retail sales (June)    0.7%    0.6%    0.3 (0.1)%
12:30     Canada     Retail sales excluding auto (June)    -0.1%    0.3%    0.6 (0.5)%
12:55     USA     Redbook (20.08)              
14:00     USA     New home sales (July)    298K    315K    300 (312)K

The dollar weakened Tuesday as speculation that Federal Reserve Chairman Ben S. Bernanke may signal further steps to boost the U.S. economy damped demand for safer assets.
The New Zealand and Australian dollars led gains versus the greenback after reports showed manufacturing from China to Europe exceeded economists’ forecasts and before Bernanke’s speech on Aug. 26 in Jackson Hole, Wyoming.
Demand for higher-yielding assets gained today as a preliminary gauge of Chinese manufacturing in August slipped to 49.8, according to a reading of the Purchasing Managers’ Index reported by HSBC Holdings Plc and Markit Economics.

EUR/USD rallied from $1.4360 to $1.4500. But rate failed to break above the figure and retreated to $1.4375.
GBP/USD printed high on $1.6570 before set stable within the $1.6384/$1.6540 range.
USD/JPY fell from Y76.50, but later recovered to Y76.74.

The main event in Europe will be the release of Germany's IFO index at 08:00 GMT.

Later EU Industrial New Orders come at 09:00 GMT.

US data include Durable goods orders at 12:30 GMT, followed by US Housing Price Index at 14:00 GMT.

Later investors will be looking for an oil stocks data from EIA at 14:30 GMT.