The dollar is falling against all of its major competitors Friday afternoon, after the U.S. GDP report for the second quarter came in weaker than anticipated. The U.S. currency is turning in its weakest performance against the Japanese Yen, after the Bank of Japan announced further stimulus.
While the University of Michigan released a report on Friday showing an upward revision to its consumer sentiment index for July, the index still came in below the reading seen in the previous month.
After reporting a substantial rebound in Chicago-area business activity in the previous month, MNI Indicators released a report on Friday showing a modest pullback by its Chicago Business Barometer in the month of July.
Growth in U.S. economic activity in the second quarter accelerated from the first quarter, according to the initial estimate released by the Commerce Department on Friday, although the pace of growth came in well below economist estimates.
Eurozone economic growth halved in the second quarter, after France's economy halted, as the region braces for uncertainty emanating from the "Brexit" talks in the quarters ahead. Separate data showed that inflation picked up in July despite weak energy prices and the unemployment rate held steady at a five year low in June.
The Japanese yen rallied against its key counterparts in the Asian session on Friday, erasing its recent losses, as the Bank of Japan shocked market participants by unleashing modest stimulus measures, which comprises increasing the purchases of exchange traded funds to 6 trillion yen per year.
The Bank of Japan raised the target for exchange-traded fund purchases and doubled its dollar lending program in addition to the fiscal stimulus that the government had unveiled two days ago. However, investors were disappointed as the bank kept its interest rate and the pace of monetary base expansion unchanged on Friday. Moreover, BoJ today downgraded its projections for inflation and growth
Quarterly national accounts, consumer prices and unemployment from euro area are due on Friday, headlining a busy day for the European economic news.
Final demand producer prices in Australia advanced 0.1 percent on quarter and 1.0 percent on year in the second quarter of 2016, the Australian Bureau of Statistics said on Friday.
Domestic prices added 0.3 percent on quarter and 0.9 percent on year, while import prices slipped 1.6 percent on quarter...
Industrial output in Japan jumped 1.9 percent on month in June, the Ministry of Economy, Trade and Industry said on Friday.
That beat forecasts for a gain of 0.5 percent following the 2.6 percent decline in May.
On a yearly basis, output slipped 1.9 percent - also exceeding forecasts for -2.9 percent...
Industrial production in South Korea dipped 0.2 percent on month in June, Statistics Korea said on Friday.
That beat forecasts for a decline of 0.6 percent following the 2.7 percent jump in May.
On a yearly basis, industrial output gained 0.8 percent - again beating forecasts for 0.2 percent after...
The total number or building permits in New Zealand issued in June surged a seasonally adjusted 16.3 percent on month, Statistics New Zealand said on Friday - coming in at 2,752.
That follows the 0.9 percent decline in May.
Individually, permits were issued for 1,863 houses, 364 townhouses, flats,...
The dollar is up against the Japanese Yen and the British pound Thursday afternoon, but is nearly unchanged in comparison to the Euro. With yesterday's announcement from the Federal Reserve behind them, investors are looking forward to Friday's announcement from the Bank of Japan. While the Fed made...
First-time claims for U.S. unemployment benefits rose by slightly more than expected in the week ended July 23rd, according to a report released by the Labor Department on Thursday. The report said initial jobless claims climbed to 266,000, an increase of 14,000 from the previous week's revised level of 252,000.
Germany's unemployment declined more-than-expected in July and the jobless rate held steady at the lowest level since reunification, despite heightened uncertainty from "Brexit". Separate official data showed that consumer prices increased for a third straight month in July and at the fastest pace in six months. Both headline inflation and the EU measure rose to 0.4 percent.