The dollar is trading modestly higher against all of its major competitors on Friday, extending its gains from the previous three sessions. U.S. economic data was largely weaker than expected at the end of the week. Readings on personal spending and consumer sentiment were both disappointing.
Potentially reflecting the recent sell-off on Wall Street, the University of Michigan released a report on Friday showing a bigger than previously estimated drop in U.S. consumer sentiment in the month of August.
While the Commerce Department released a report on Friday showing that U.S. personal income increased in line with economist estimates in the month of July, the report also showed that personal spending rose by slightly less than expected.
Eurozone economic sentiment improved for a second straight month to set a fresh four-year high in August, led by domestic demand even as morale weakened in the industrial sector due to concerns over a stronger euro and a possible sharp slowdown in China. The economic sentiment index rose to 104.2 from 104 in July.
Switzerland's economy avoided recession in the second quarter on the back of rising spending and investment, data published by the State Secretariat for Economic Affairs showed Friday. Gross domestic product grew unexpectedly by 0.2 percent sequentially in the second quarter, offsetting a 0.2 percent fall in the prior quarter. Economists had forecast a 0.1 percent fall.
Consumer prices from Germany and economic confidence from euro area are due on Friday, headlining a busy day for the European economic news.
Nationwide consumer prices in Japan added 0.2 percent on year in July, the Ministry of Internal Affairs and Communications said on Friday - matching forecasts and slowing from 0.4 percent in June.
Overall core consumer prices, which exclude the volatile costs of food, were flat on month. That beat...
While the National Association of Realtors released a report on Thursday showing pending home sales in the U.S. rose for the sixth time in seven months in July, the pace of growth fell short of economist estimates.
Economic activity in the U.S. increased by much more than previously estimated in the second quarter of 2015, the Commerce Department revealed in a report on Thursday. The Commerce Department said real gross domestic product increased by 3.7 percent in the second quarter.
First-time claims for U.S. unemployment benefits decreased modestly in the week ended August 22nd, according to a report released by the Labor Department on Thursday. The report said initial jobless claims edged down to 271,000, a decrease of 6,000 from the previous week.
U.K. house price inflation eased to its lowest level in more than two years in August, but construction activity should increase to keep pace with demand, the Nationwide Building Society said Thursday. House prices rose 3.2 percent year-on-year in August, slower than the 3.5 percent increase seen in July, data showed. Nonetheless, it was faster than the expected 3.1 percent increase.
Business confidence from France and house prices from the U.K. are due on Thursday, headlining a light day for the European economic news.
The dollar is rising against all of its major competitors Wednesday, extending its gains from the previous trading session. The currency is benefitting from the surprise increase in durable goods orders and comments from William Dudley.
New orders for U.S. manufactured durable goods unexpectedly saw...
New orders for U.S. manufactured durable goods unexpectedly saw a notable increase in the month of July, according to a report released by the Commerce Department on Wednesday. The Commerce Department said durable goods orders climbed by 2.0 percent in July.
Mortgage approvals data from the U.K. is due on Wednesday, headlining a light day for the European economic news.