The U.S. Dollar value inched higher after the two-day U.S.-China summit failed to deliver any breakthrough on a possible Chinese role to end the gulf crisis. With reopening of the Strait of Hormuz delaying along with concerns of re-escalation in the Middle East, the dollar index moved higher.
The Federal Reserve released a report on Friday showing industrial production in the U.S. rebounded by much more than anticipated in the month of April. The report said industrial production climbed by 0.7 percent in April after falling by a revised 0.3 percent in March. Economists had expected industrial production to rise by 0.3 percent.
New York manufacturing activity grew strongly in the month of May, the Federal Reserve Bank of New York said in a report released on Friday. The New York Fed said its general business conditions index shot up to 19.6 in May from 11.0 in April, with a positive reading indicating growth. The increase surprised economists, who had expected the index to pull back to 7.8.
The British pound weakened against other major currencies in the European session on Friday, as investors weighed a potential leadership challenge to Prime Minister Keir Starmer from Greater Manchester Mayor Andy Burnham, as well as concerns over inflation risks. Burnham announced on Thursday that...
The Indian rupee weakened against the U.S. dollar in the European session on Friday, due to growing worries about India's foreign exchange reserves and the center's intention to raise import duties on gold and silver. The Indian government declared early on Wednesday that import taxes on gold and...
Malaysia's economy expanded at a faster than estimated pace in the first quarter, underpinned by household spending and investment, data from the Department of Statistics showed Friday. Gross domestic product logged an annual growth of 5.4 percent, which was revised up from the initial estimate of 5.3 percent. This followed a revised 6.2 percent expansion in the fourth quarter of 2025.
The antipodean currencies such as the Australia and the New Zealand dollars weakened against their major currencies in the Asian session on Friday as Asian stock markets traded lower, amid concerns over the re-escalation of the Middle East conflict after ship attacks and seizures near the Strait of Hormuz....
The U.S. Dollar value edges higher as Middle East tensions continue in the absence of a peace deal while market focus shifts to U.S.-China summit anticipating possible announcements on Chinese intervention to defuse the U.S.-Iran conflict.
Partly reflecting a jump in wholesale inventories, the Commerce Department released a report on Thursday showing U.S. business inventories increased by slightly more than expected in the month of March. The report said business inventories climbed by 0.9 percent in March after rising by 0.4 percent in February. Economists had expected business inventories to grow by 0.8 percent.
The Labor Department released a report on Thursday showing a substantial increase in import prices in the U.S. in the month of April. The report said import prices shot up by 1.9 percent in April after climbing by an upwardly revised 0.9 percent in March. Economists had expected import prices to jump by 1.0 percent.
A report released by the Commerce Department on Thursday showed retail sales in the U.S. increased in line with economist estimates in the month of April. The Commerce Department said retail sales climbed by 0.5 percent in April after jumping by a downwardly revised 1.6 percent in March.
First-time claims for U.S. unemployment benefits rose by more than expected in the week ended May 9th, according to a report released by the Labor Department on Thursday. The report said initial jobless claims climbed to 211,000, an increase of 12,000 from the previous week's revised level of 199,000. Economists had expected jobless claims to rise to 205,000.
The Indian rupee strengthened against the U.S. dollar in the European session on Thursday, as India's wholesale price inflation has increased, markets focused on the trajectory of interest rates. Data from the Ministry of Commerce and Industry showed India's wholesale price inflation accelerated...
The U.K. economy grew at a stronger pace in the first quarter of the year ahead of the escalation of geopolitical tensions in the Middle East that triggered supply disruptions and a surge in crude oil price. Gross domestic product increased 0.6 percent sequentially, following the fourth quarter's 0.2 percent expansion, the Office for National Statistics said.
Quarterly national accounts, industrial production and foreign trade reports from the UK are due on Thursday, headlining a light day for the European economic news. At 2.00 am ET, the Office for National Statistics is scheduled to issue UK GDP, industrial output and external trade figures. The economy is forecast to grow 0.6 percent in the first quarter after rising 0.1 percent in the preceding
May 15, 2026 15:25 ET Apart from the confirmation of Kevin Warsh as the next Fed chair, the main news on the economics front this week included key price data from the U.S. and the first quarter economic growth figures from major economies. Both consumer prices and producer costs have started to reflect the effect of supply shocks due to the Middle East conflict. In Europe, GDP data was in focus, while inflation data from China dominated the news flow in Asia.