The euro strengthened against other major currencies in the European session on Friday, amid news of a peace agreement between Russia and Ukraine.

The Bank of Korea left its benchmark interest rate unchanged on Friday, as policymakers closely monitor rising inflationary pressures and downside risk to growth amid heightened geopolitical tensions. The Monetary Policy Board of the Bank of Korea decided to leave the Base Rate unchanged at 2.50 percent.

after the Lunar New Year holiday, while producer prices exited deflation for the first time since 2022 as the Middle East conflict pushed up oil prices. Consumer prices rose 1.0 percent year-on-year in March, the National Bureau of Statistics reported Friday.

A report released by the Commerce Department on Thursday showed wholesale inventories in the U.S. unexpectedly rebounded in the month of February. The Commerce Department said wholesale inventories climbed by 0.8 percent in February after falling by a revised 0.3 percent in January.

A report released by the Commerce Department on Thursday showed consumer prices in the U.S. increased in line with economist estimates in the month of February. The Commerce Department said its personal consumption expenditures (PCE) price index climbed by 0.4 percent in February after rising by 0.3 percent in January. Economists had expected prices to increase by 0.4 percent.

The Labor Department released a report on Thursday showing first-time claims for U.S. unemployment benefits rose by more than expected in the week ended April 4th. The report said initial jobless claims climbed to 219,000, an increase of 16,000 from the previous week's revised level of 203,000. Economists had expected jobless claims to rise to 210,000.

Germany's export rebounded the most since 2022 even as sales to the U.S. and China declined, official data revealed Thursday. Imports also logged robust recovery in February. Exports grew 3.6 percent month-on-month in February, reversing January's 1.5 percent fall. This was the biggest growth since May 2022. Shipment was expected to climb 1.0 percent.

Germany's industrial production dropped unexpectedly in February even before the outbreak of war in the Middle East, data from Destatis revealed on Thursday. Industrial production fell 0.3 percent in February compared to January, when it was flat. Production was expected to grow 0.6 percent.

Industrial production and foreign trade from Germany are the top economic news due on Thursday. At 2.00 am ET, Destatis publishes Germany's industrial output and foreign trade figures. Industrial output is expected to grow 0.9 percent on a monthly basis in February, in contrast to the 0.5 percent fall in January.

While the conflict in the Middle East has led to a heightened degree of economic uncertainty, the minutes of the Federal Reserve's latest monetary policy meeting revealed many officials still expect to resume cutting interest rates this year. The minutes of the Fed's March 17-18 meeting said participants emphasized the importance of being "nimble" in adjusting the stance of monetary policy

The Reserve Bank of India decided to hold its benchmark interest rates and 'neutral' stance on Wednesday as macroeconomic outlook remains resilient despite elevated geopolitical tensions. At the meeting, the Monetary Policy Committee, governed by Sanjay Malhotra, unanimously decided to keep the policy repo rate unchanged at 5.25 percent.

Germany's factory orders recovered in February, albeit at a slower than expected pace, ahead of the war in Iran, data from Destatis revealed Wednesday. Driven by the substantial growth in the auto industry, factory orders grew 0.9 percent on a monthly basis in February, in contrast to the 11.1 percent decline in January. Orders were forecast to expand 3.0 percent.

UK house prices declined in March as the Iran conflict pushed up inflation expectations and dampened hopes of interest rate reductions, data from the mortgage lender Halifax showed Wednesday. House prices decreased 0.5 percent on a monthly basis in March, reversing February's 0.3 percent increase. The average property price was GBP 299,677.

Factory orders and construction Purchasing Managers' survey results from Germany are due on Wednesday, headlining a busy day for the European economic news. At 2.00 am ET, Destatis is slated to issue Germany's factory orders data. Economists expect orders to grow 3.0 percent on a monthly basis in February, reversing a drop of 11.1 percent in January.

The Reserve Bank of New Zealand maintained its key interest rate on Wednesday, citing the impact of the Middle East conflict on domestic inflation and economic recovery. The Monetary Policy Committee, governed by Anna Breman, decided to hold the key interest rate at 2.25 percent, as widely expected. The bank has lowered its benchmark rate by 325 basis points since August 2024.

The six-currency Dollar Index declined mildly during the week ended April 3 amidst the turbulent geopolitical situation in the Middle East swayed both by escalatory rhetoric as well as peace efforts.

Largely reflecting a steep drop in aircraft orders, the Commerce Department released a report on Tuesday showing new orders for U.S. manufactured durable goods slumped by much more than expected in the month of February. The Commerce Department said durable goods orders tumbled by 1.4 percent in February after falling by a revised 0.5 percent in January.

The euro area private sector logged its softest expansion in nine months in March amid a renewed fall in new orders and intensifying cost pressures, final survey data from S&P Global showed Tuesday. The final composite output index posted 50.7 in March, down from 51.9 in February. This was the lowest reading since last July and above the flash estimate of 50.5.

Eurozone investor confidence deteriorated to a one-year low in April as the war in Iran triggered fears of recession, a survey conducted by the behavioral research institute Sentix showed Tuesday. The investor confidence index plunged to -19.2 in April from -3.1 in March. The score was worse than economists' forecast of -7.5.

Final composite Purchasing Managers' survey results from the euro area and the UK are the top economic news due on Tuesday. At 3.15 am ET, S&P Global publishes Spain's services and composite PMI data. The services index is forecast to fall to 50.7 in March from 51.9 in the prior month.

The Institute for Supply Management released a report on Monday showing a slowdown in the pace of growth by U.S. service sector activity in the month of March. The ISM said its services PMI slid to 54.0 in March after jumping to 56.1 in February, although a reading above 50 still indicates growth. Economists had expected the index to drop to 54.7.

The Australian dollar strengthened against other major currencies in the European session on Monday, on hopes of Iran war de-escalation.

The Labor Department released a report on Friday showing employment in the U.S. surged by much more than expected in the month of March. The report said non-farm payroll employment shot up by 178,000 jobs in March after plunging by a revised 133,000 jobs in February. Economists had expected employment to climb by 51,000 jobs.

Japan's service sector logged strong growth but the pace of expansion eased slightly amid a softer upturn in new orders, survey results from S&P Global showed Friday. The headline final services Purchasing Managers' Index fell to 53.4 in March from a 21-month high of 53.8 in February. The reading was above the initial estimate of 52.8.

China's service sector growth eased sharply in March but business outlook remained positive and cost pressures remained moderate, survey data published by S&P Global showed Friday. The headline RatingDog China services Purchasing Managers' Index fell to 52.1 in March from a 33-month high of 56.7 in February. The score was also below economists' forecast of 53.7.