New residential construction in the U.S. unexpectedly surged to their highest level in almost a year in the month of January, the Commerce Department revealed in a report released on Thursday. The Commerce Department said housing starts spiked by 7.2 percent to an annual rate of 1.487 million in January after jumping by 4.8 percent to a revised rate of 1.387 million in December.

The Commerce Department released a report on Thursday showing the U.S. trade deficit narrowed by much more than expected in the month of January. The report said the trade deficit shrank to $54.5 billion in January from a revised $72.9 billion in December. Economists had expected the trade deficit to decrease to $67.9 billion from the $70.3 billion originally reported for the previous month.

First-time claims for U.S. unemployment benefits unexpectedly edged slightly lower in the week ended March 7th, according to a report released by the Labor Department on Thursday. The Labor Department said initial jobless claims slipped to 213,000, a decrease of 1,000 from the previous week's revised level of 214,000. Economists had expected jobless claims to inch up to 215,000.

The Indian rupee weakened against the U.S. dollar in the early European session on Thursday, as market mood was affected by uncertain oil prices and poor domestic stocks.

UK housing market confidence remained fragile and forward-looking sentiment turned more cautious amid the escalation of conflict in the Middle East, the Residential Market Survey results from the Royal Institution of Chartered Surveyors' showed Thursday. The headline house price balance fell unexpectedly to -12 percent from -10 percent in January. The balance was expected to improve to -9 percent

The Australian dollar weakened against other major currencies in the Asian session on Thursday amid increasing risk-off sentiment by the investors, as the joint U.S.-Israeli strikes against Iran continue unabated, leading to a fresh surge in crude oil price that reinforced global inflationary concerns. Reports of Iran seeking to mine the Strait of Hormuz have also added to concerns about shipping through the vital waterway.

A report released by the Labor Department on Wednesday showed consumer prices in the U.S. increased in line with economist estimates in the month of February. The Labor Department said its consumer price index climbed by 0.3 percent in February after rising by 0.2 percent in January. The growth matched expectations.

The Australian dollar strengthened against other major currencies in the Asian session on Wednesday, amid rising speculations that the Reserve Bank of Australia or the RBA will raise interest rates next week.

Final inflation data from Germany is the only major report due on Wednesday, headlining a light day for the European economic news. At 3.00 am ET, Destatis is scheduled to issue Germany's final inflation figures. The preliminary estimate showed that consumer price inflation eased to 1.9 percent in February from 2.1 percent in January.

A report released by the National Association of Realtors on Tuesday unexpectedly showed a notable rebound by existing home sales in the U.S. in the month of February. NAR said existing home sales jumped by 1.7 percent to an annual rate of 4.09 million in February after plunging by 5.9 percent to an upwardly revised rate of 4.02 million in January.

Germany's exports declined more than expected and imports posted a sharper contraction in January, data from Destatis showed Tuesday. Exports declined 2.3 percent on a monthly basis, in contrast to the 3.9 percent increase in December. Shipments were expected to fall 2.0 percent. This was the biggest fall since May 2024.

Japan's economy grew much stronger than initially estimated in the fourth quarter on robust capital expenditure, revised data published by the Cabinet Office revealed Tuesday. Gross domestic product grew by an annualised 1.3 percent in the fourth quarter, which was revised up from the initial estimate of 0.2 percent. This followed third quarter's 2.6 percent contraction.

China's exports registered a double-digit growth during January to February period despite the fall in shipments to the United States, leading to a surge in the trade surplus, official data revealed Tuesday. Exports surged 21.8 percent from the prior year, faster than the 6.6 percent rise in December, the General Administration of Customs said. This was also stronger than economists' forecast of

The U.S. Dollar rallied emphatically against major currencies during the week ended March 6 amidst a dramatic escalation in the U.S.-Iran conflict.

Eurozone investor confidence weakened to a three-month low in March after the outbreak of the Iran war, raising concerns about the recent upturn seen in the currency bloc, a survey conducted by the behavioral research institute Sentix showed Monday. After the third consecutive improvement, the investor confidence index dropped to -3.1 in March, in line with expectations, from +4.2 in February.

Germany's industrial production declined unexpectedly in January and factory orders reported a double-digit contraction, official data revealed Monday. Industrial production posted a monthly fall of 0.5 percent in January, which was slower than the 1.0 percent decrease in December, Destatis reported. Output was expected to climb again by 1.0 percent.

Factory orders and industrial production from Germany and investor confidence from the euro area are due on Monday. At 3.00 am ET, Destatis is scheduled to issue Germany's industrial production and factory orders figures. Economists forecast production to grow 1.0 percent on a monthly basis, reversing a 1.9 percent fall in December. Orders are expected to decrease 4.2 percent.

China's consumer prices increased the most in more than three years in February, driven by higher spending during the Lunar New Year holiday, while producer prices continued to fall, official data revealed Monday. Consumer prices gained 1.3 percent year-on-year in February, faster than the 0.2 percent rise in the previous month, the National Bureau of Statistics said.

The Commerce Department released a report on Friday showing business inventories in the U.S. crept slightly higher in the month of December. The report said business inventories inched up by 0.1 percent in December after coming in unchanged in November. Economists had expected business inventories to remain flat.

A report released by the Commerce Department on Friday showed a modest decrease by retail sales in the U.S. in the month of January. The Commerce Department said retail sales slipped by 0.2 percent in January after coming in unchanged in December. Economists had expected retail sales to fall by 0.4 percent.

Employment in the U.S. unexpectedly decreased in the month of February, according to a closely watched report released by the Labor Department on Friday. The report said non-farm payroll employment slumped by 92,000 jobs in February after jumping by a downwardly revised 126,000 jobs in January. Economists had expected employment to increase by 60,000 jobs.

The euro area economy grew at a slower-than-estimated pace in the fourth quarter as net trade held back growth, final data from Eurostat showed Friday. Gross domestic product rose 0.2 percent sequentially, which was revised down from 0.3 percent estimated previously. The economy had expanded 0.3 percent in the third quarter and 0.1 percent in the second quarter.

UK house prices increased at the fastest pace in four months in February, suggesting the property market gained momentum at the start of the year, data from the mortgage lender Halifax showed Friday. House prices registered an annual growth of 1.3 percent in February, following a 1.1 percent rise in January. This was the strongest growth in four months and exceeded economists' forecast of 0.9 per

Revised GDP data from the euro area is the major economic report due on Friday. At 2.00 am ET, UK Halifax house price data is due. Economists expect house prices to grow 0.3 percent on a monthly basis in February, following a 0.7 percent rise in January.

Factory orders from Germany and revised GDP data from the euro area are the major reports due on Friday. At 2.00 am ET, Germany's statistical office Destatis publishes factory orders data for January. Orders are forecast to fall 4.3 percent month-on-month, in contrast to the 7.8 percent rise in December.