Partly reflecting a continued spike in energy prices, the Labor Department released a report on Thursday showing a bigger than expected increase in U.S. producer prices in the month of May. The Labor Department said its producer price index for final demand shot up by 1.1 percent in May, matching a downwardly revised jump in April.
The Labor Department released a report on Thursday showing an unexpected uptick in first-time claims for U.S. unemployment benefits in the week ended June 6th. The report said initial jobless claims crept up to 229,000, an increase of 4,000 from the previous week's unrevised level of 225,000. Economists had expected jobless claims to dip to 219,000.
The European Central Bank raised its interest rates for the first time in nearly three years in a bid to cushion the impact of rising inflation that is triggered by the surge in energy prices due to the conflict in the Middle East, as the single currency economy struggles to grow. The Governing Council, led by ECB President Christine Lagarde, hiked the deposit rate by 25 basis points to 2.25%.
The commodity-linked currencies such as Australia, the New Zealand and the Canadian dollars weakened against their major currencies in the European session on Thursday, as the crude oil prices dropped giving up earlier gains on hopes that U.S.-Iran peace negotiations could resume. Brent crude futures...
UK house prices continued to decline and sales activity indicators remained negative as challenging macroeconomic conditions weighed on demand but some measures showed signs of stabilization in the property market, the Residential Market Survey results from the Royal Institution of Chartered Surveyors, or RICS, showed Thursday. The house price balance posted -35 percent in May.
The monetary policy announcement from the European Central Bank is the top economic news due on Thursday. At 2.00 am ET, Statistics Sweden publishes inflation data for May. Economists forecast consumer prices to grow 0.8 percent on a yearly basis, in contrast to the 0.1 percent fall in April.
The U.S. Dollar value ended nearly unchanged as U.S.-Iran exchange of attacks raise doubts on an early peace deal. Meanwhile, the U.S. Consumer Purchase Index for May rose to 4.20% on an annual basis indicating a persistent war-driven inflation.
In a widely expected move, the Bank of Canada announced on Wednesday that it has once again decided to leave interest rates unchanged. The Canadian central bank said it decided to hold its target for the overnight rate at 2.25 percent, with the Bank Rate at 2.5 percent and the deposit rate at 2.20 percent.
A report released by the Labor Department on Wednesday showed consumer prices in the U.S. increased in line with economist estimates in the month of May. The Labor Department said its consumer price index rose by 0.5 percent in May after climbing by 0.6 percent in April. The price growth matched expectations.
The Australian dollar weakened against other major currencies in the Asian session on Wednesday, as the investor sentiment dampened after the Reserve Bank of Australia (RBA) is less likely to boost interest rates in June. Asian stock markets traded lower, as continuing uncertainty about the fragile...
China's consumer prices logged a steady growth in May and producer price inflation accelerated to its highest level in nearly four years on higher energy costs, official data showed Wednesday. Consumer prices increased 1.2 percent year-on-year in May, the same rate as seen in April, the National Bureau of Statistics said.
The U.S. Dollar value ticked lower after crude oil prices plunged following the reassurance from U.S. President Donald Trump that a U.S.-Iran deal could happen in a couple of days and that the Strait of Hormuz will reopen soon after the agreement is signed.
A report released by the National Association of Realtors on Tuesday showed existing home sales in the U.S. spiked by much more than anticipated in the month of May. NAR said existing home sales surged by 3.2 percent to an annual rate of 4.17 million in May after climbing by 0.8 percent to an upwardly revised rate of 4.04 million in April.
The Commerce Department released a report on Tuesday showing the U.S. trade deficit narrowed roughly in line with economist estimates in the month of April. The report said the trade deficit shrank to $55.9 billion in April from a revised $56.6 billion in March. Economists had expected the trade deficit to decrease to $55.8 billion from the $60.3 billion originally reported for the previous month
Germany's industrial production expanded for the first time in five months in April but the growth remained moderate as geopolitical tensions clouds outlook. Industrial output increased 0.4 percent on a monthly basis, in line with expectations but in contrast to the revised 0.1 percent fall in March, data from Destatis revealed Tuesday. Moreover, this was the first growth since November.
June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.