The dollar posted some modest gains against all of its major rivals Friday morning, but has since pared those gains and entered negative territory. Overall, the U.S. currency is little changed at the end of the trading week. There was no U.S. economic data to drive trading on Friday and most investors...
U.K. retail sales declined at the fastest pace in more than four years in December as consumers minimized their spending amid rising inflation. Retail sales volume including auto fuel fell 1.9 percent from November, when it dropped by a marginal 0.1 percent, the Office for National Statistics said Friday.
Retail sales from the U.K. is the only major report due on Friday, headlining a light day for the European economic news.
China's economy expanded at a faster pace in the fourth quarter on spending, while the full-year growth hit the weakest in 26 years, data from the National Bureau of Statistics revealed Friday. Gross domestic product grew 6.8 percent in the fourth quarter, while economists expected the rate to stabilize again at 6.7 percent.
The dollar is turning in a mixed performance against its major rivals Thursday afternoon, but is little changed overall. The relatively flat performance surprisingly follows on the heels of a policy meeting announcement from the European Central Bank and a trio of better than expected U.S. economic reports....
Eurozone inflation is being driven largely by energy costs and the recent pick up in momentum is unlikely to sustain, European Central Bank President Mario Draghi said Thursday, adding that policymakers will continue to look through transient changes. "There are no signs yet of a convincing upward trend in underlying inflation," Draghi said.
Philadelphia-area manufacturing activity unexpectedly grew at a faster pace in the month of January, the Federal Reserve Bank of Philadelphia revealed in a report on Thursday. The Philly Fed said its index for current manufacturing activity in the region rose to 23.6 in January from a revised 19.7 in December.
After reporting a steep drop in new U.S. residential construction in the previous month, the Commerce Department released a report on Thursday showing that housing starts saw a significant rebound in the month of December. The Commerce Department said housing starts jumped by 11.3 percent to an annual rate of 1.226 million in December.
First-time claims for U.S. unemployment benefits unexpectedly declined in the week ended January 14th, according to a report released by the Labor Department on Thursday. The report said initial jobless claims fell to 234,000, a decrease of 15,000 from the previous week's revised level of 249,000.
The European Central Bank left its key interest rates unchanged for a seventh consecutive policy session and maintained its asset purchases, which will continue at a reduced pace till the end of this year, as the solid economic momentum is sustained in the euro area despite the continuing political flux.
Governments and businesses should adopt a new approach to help everyone benefit from globalization, British Prime Minister Theresa May said Thursday. In a speech at the World Economic Forum meeting at Davos, Switzerland, May urged all businesses to demonstrate leadership through playing by the same tax rules.
The European Central Bank is unlikely to announce any policy change on Thursday, after extending and trimming asset purchases in December, as the solid economic momentum is sustained in the euro area despite the continuing political flux. The bank is widely expected to maintain interest rates and asset purchases. Economists widely expect the central bank to hold fire until April.
The European Central Bank is set to announce the outcome of its governing council meeting later today.
The jobless rate in Australia came in at a seasonally adjusted 5.8 percent in December, the Australian Bureau of Statistics said on Thursday.
That exceeded forecasts for 5.7 percent, which would have been unchanged from the November reading.
The Australian economy added 13,500 jobs, topping expectations...
The total number of building permits in New Zealand issued in November fell a seasonally adjusted 9.2 percent on month in November, Statistics New Zealand said on Thursday - standing at 2,973.
That followed the 2.0 percent increase in October, and it marked the most for any month since March 2005,...