Dollar Strengthens Ahead Of U.S. Retail Sales Report

The Commerce Department is set to release its retail sales report at 8:30 am ET. For June, economists estimate a 0.2 percent increase in retail sales and a 0.1 percent increase in retail sales that exclude autos.

The results of the New York Federal Reserve's empire state manufacturing survey is slated to be released at 8:30 am ET. The headline general business conditions index for July is expected to come in at 4.50 after declining to 2.3 in June.

The US dollar edged higher against its major counterparts ahead of the data. As of 8:25 am ET, the greenback was trading at 1.5525 against the pound, 79.03 against the yen, 1.2180 against the euro and 0.9865 against the Swiss franc.