The U.S. dollar traded higher against the most major currencies after the release of strong U.S. economic data. U.S. durable goods orders rose 0.8% in April, after a 2.9% gain in March. March’s figure was revised up to 2.9% from 2.6%. Analysts had expected a 0.4% decrease. April’s increase of durable goods orders was driven by demand for defence goods

U.S. core durable goods orders excluding transportation climbed 0.1% in April, after a 2.4% gain in March. March’s figure was revised up to a 2.4% increase from a 2.0% rise. Analysts had forecasted a 0.2% gain.

U.S. core durable goods orders excluding defence dropped 0.8% in April, after a 1.8% rise in March.

The Conference Board released its index of consumer confidence. The consumer confidence index climbed to 83.0 in May, from 81.7 in April. April’s figure was revised down from 82.3.

Standard & Poor’s/Case-Shiller house price index increased at an annualized rate of 12.4% in March, after a 12.9% rise in February. Analysts had expected an 11.9% increase.

U.S. flash services purchasing manager index surged to 58.4 in April, from 55.0 in March. Analysts had expected an increase to 55.6.

The euro dropped against the U.S. dollar due to strong U.S. economic data. The European Central Bank President Mario Draghi said on Tuesday the ECB is aware of risks from low inflation. He added that the ECB had the tools to get inflation in the Eurozone back close to 2%. His comments have fanned expectations for further stimulus measures by the ECB in June.

The British pound declined against the U.S. dollar after the release of U.K. mortgage approvals and strong U.S. economic data. U.K. mortgage approvals climbed by 42,200 in April, missing expectations for a 45,200 gain. March’s figure was revised down to a 45,000 rise from a previously estimated 45,900 increase.

The Swiss franc traded lower against the U.S. dollar. Switzerland's trade surplus rose to 2.425 billion Swiss francs in April, from 1.996 billion Swiss francs in March. March’s figure was revised down from a previously estimated surplus of 2.050 billion Swiss francs. Analysts had expected the trade surplus to climb to 2.052 billion Swiss francs.

The number of employed people in Switzerland remained unchanged at 4.190 million in the first quarter. Analysts had forecasted an increase to 4.210 million.

The New Zealand dollar declined against the U.S in the absence of any major economic reports in New Zealand.

The Australian dollar climbed to 1-week highs against the U.S. dollar in the absence of any major economic reports in Australia, but later lost all its gains.

The Japanese yen increased against the U.S. dollar after the release of corporate services price index in Japan, but later lost all its gains. The corporate services price index in Japan climbed 3.4% in April, from 0.7% in March. Analysts had expected a 3.3% increase.