The US dollar rose in European trade on Tuesday, resuming gains and almost touching seven-week highs ahead of important US data on housing prices and consumer sentiment.

The data will reveal important clues on the future path of US interest rates and monetary policy this year.

The Price

The dollar index rose 0.1% today to 105.59, with a session-low at 105.37.

The index lost 0.3% on Monday, the first loss in three days on profit-taking, away from seven-week highs at 105.92.

Fed Remarks

San Francisco Fed President Mary Dale said on Monday she doesnt expect the Fed will cut interest rates before making sure that inflation is heading towards 2%.

US Rates

According to the Fedwatch tool, the odds of a 0.25% Federal Reserve interest rate cut stand at 67%, and at 79% in November.

US Data

Now investors await important US data on housing prices, expected up 7% in April.

The US CB consumer sentiment index is expected down to 100 in June from 102.00.