The dollar is weakening against both the Euro and the pound sterling at the end of the trading week, following the release of a trio of disappointing economic reports. However, the U.S. currency is modestly higher against the Japanese Yen.
Economic activity in the U.S. contracted for the first time...
India's economy grew strongly in the three months to March led by manufacturing, outpacing China, while economists and observers raise doubts regarding the credibility of the data as previous figures underwent sharp revision. Gross domestic product rose 7.5 percent year-on-year in the March quarter, exceeding economists' consensus for 7.3 percent expansion.
Consumer sentiment in the U.S. deteriorated less than previously estimated in the month of May, according to a report released by the University of Michigan on Friday.
Business activity in the Chicago area unexpectedly contracted in the month of May, according to a report released by MNI Indicators on Friday. MNI Indicators said the Chicago business barometer tumbled to 46.2 in May from 52.3 in April, with a reading below 50 indicating a contraction in regional business activity.
Economic activity in the U.S. contracted for the first time in a year in the first quarter of 2015, according to revised data released by the Commerce Department on Friday.
Japanese household consumption declined in April and inflationary pressures eased sharply, raising doubts regarding the expectations of moderate economic recovery and the return of inflation to the central bank's 2 percent target. However, the jobless rate in Japan fell unexpectedly to a 18-year low and industrial production rose in April, extending a glimmer of hope.
Switzerland's economy contracted at the fastest pace in six years in the first quarter as the strong franc weighed heavily on exports. Gross domestic product fell unexpectedly by 0.2 percent sequentially in the first quarter, reversing the prior quarter's 0.5 percent increase, data published by the State Secretariat for Economic Affairs revealed Friday.
The dollar was up against all of its major competitors early Thursday, but reversed direction following the release of the weekly jobless claims report and the pending home sales data. The U.S. currency has slipped back to nearly unchanged for the session.
After reporting a modest increase in first-time...
Pending home sales in the U.S. increased by much more than expected in the month of April, according to a report released by the National Association of Realtors on Thursday, with pending sales jumping to their highest level in nearly nine years.
After reporting a modest increase in first-time claims for U.S. unemployment benefits in the previous week, the Labor Department released a report on Thursday showing another uptick in initial jobless claims in the week ended May 23rd.
Eurozone economic confidence remained unchanged at its second highest level in nearly four years in May despite the ongoing Greek crisis, survey results from the European Commission showed Thursday. The economic sentiment index held steady at 103.8 in May, while it was forecast to fall to 103.5. This was the second highest score since July 2011. The April figure was revised up from 103.7.
Economic confidence from Eurozone and revised quarterly national accounts from the U.K. are the major reports due on Thursday.
The Philippine economy grew at a less-than-expected rate in the first quarter of 2015, figures from the National Statistical Coordination Board showed Thursday. Sequentially, the country's GDP growth slowed to a 6-year low.
Private capital expenditure in Australia contracted a seasonally adjusted 4.4 percent on quarter in the first quarter of 2015, the Australian Bureau of Statistics said on Thursday - coming in at A$35.895 billion.
That missed expectations for a decline of 2.2 percent, which would have been unchanged...
Retail sales in Japan advanced 5.0 percent on year in April, the Ministry of Economy, Trade and Industry said on Thursday - coming in at 11.562 trillion yen.
That was shy of forecasts for an increase of 5.5 percent following the 9.7 percent contraction in March.
Sales from large retailers advanced...