This Data Could Be A USD Mover In The New York Session

<p>&nbsp;The greenback remained trading lower in the European session despite some volatility in the market due to weaker-than-expected Chinese economic data.</p><p><br /></p><p>Data released during the Asian session showed China's economy growing by 6.3% in the second quarter year-on-year, slower than expectations for 7.1% growth.</p><p><br /></p><p>The missed-than-expected reading slightly affected risk-sensitive currencies, the Aussie and New Zealand dollars to drop from their five-week highs and five-month highs respectively.</p><p><br /></p><p>Awaiting investors in the upcoming New York session is the State Empire manufacturing index data which is the main indicator of the health of the United States economy.</p><p><br /></p><p>At the start of the European session, the US dollar remained in gloomy trading with the dollar index hovering at a 15-month low against a basket of major currencies.</p><p><br /></p><p><br /></p><p>The euro continued to strengthen at its highest level since February 2022, and the pound remained strong at its highest since April 2022 against the greenback.</p><p><br /></p><p>Speeches by several European Central Bank (ECB) policy makers, including President Christine Lagarde will be the focus of investors in today's European session.</p><p><br /></p><p>Meanwhile, the yen traded flat, hovering around a two-month high against the greenback.</p><p><br /></p><p>The Canadian dollar was trading almost unchanged after paring last week's gains, amid lackluster Chinese economic data.</p>