2021.10.0421:14:00UTC+00Dollar Drifts Lower Against Major Rivals

The U.S. dollar was quite subdued against its major rivals on Monday, extending losses from the previous session.

A report released by the Commerce Department showed new orders for U.S. manufactured goods jumped by more than expected in the month of August, with factory orders surging up by 1.2% in the month, after climbing by an upwardly revised 0.7% in July.

Economists had expected factory orders to increase by 0.9% compared to the 0.4% rise originally reported for the previous month.

The report showed orders for durable goods shot up by 1.8%, while orders for non-durable goods rose by 0.6%. Meanwhile, the Commerce Department said shipments of manufactured goods inched up by 0.1% in August after jumping by 1.5% in July.

The dollar index slipped to a low of 93.68 around mid morning, and despite recovering to 93.82 as the session progressed, was still well below the unchanged line, losing nearly 0.25%.

Against the Euro, the dollar weakened to 1.1620 from 1.1594. Eurozone investor confidence weakened for the third straight month in October, survey data from the behavioral research institute Sentix showed.

The investor sentiment index dropped more-than-expected to 16.9 in October from 19.6 in September. The expected level was 18.6. The latest score was the lowest since April 2021.

The Pound Sterling firmed against the dollar, fetching $1.3608 a unit, nearly 0.5% more than Friday's close of $1.3546.

The Yen advanced to 110.93 a dollar, gaining from 111.07. Against the Aussie, the dollar weakened to 0.7289 from 0.7264.

The Swiss franc firmed to 0.9245 against the dollar, gaining from 0.9305. Switzerland's consumer price inflation remained stable in September, growing 0.9% year-on-year, same as seen in August, data from the Federal Statistical Office showed. Economists had expected a 1.1% rise.

The Loonie strengthened to 1.2590 a US dollar, advancing from 1.2651 as oil prices rose sharply after OPEC+ decided to stick to its current output plan of increasing production by 400,000 barrels per day in November.