Final inflation and current account from the euro area are the top economic news due on Friday. At 3.00 am ET, Statistics Austria publishes Austria's final inflation figures for June. In the meantime, the Czech Statistical Office releases producer prices data.

The Commerce Department released a report on Thursday showing business inventories in the U.S. increased in line with economist estimates in the month of May. The report said business inventories rose by 0.3 percent in May after climbing by an upwardly revised 0.6 percent in April.

A report released by the National Association of Home Builders on Thursday showed an unexpected deterioration in U.S. homebuilder confidence in the month of July. The report said the NAHB/Wells Fargo Housing Market Index fell to 34 in July from an upwardly revised 36 in June. Economists had expected the index to come in unchanged compared to the 35 originally reported for the previous month.

Pending home sales in the U.S. pulled back by much more than expected in the month of June, according to a report released by the National Association of Realtors on Thursday. NAR said its pending home sales index plunged by 5.4 percent to 72.5 in June after surging by 3.5 percent to a revised 76.6 in May.

A report released by the Federal Reserve Bank of Philadelphia on Thursday showed its reading on regional manufacturing activity soared by much more than expected in the month of July. The Philly Fed said its diffusion index for current general activity skyrocketed to 41.4 in July from 10.3 in June, with a positive reading indicating growth. Economists had expected the index to rise to 13.0.

Largely reflecting a surge in sales by motor vehicle and parts dealers, the Commerce Department released a report on Thursday showing a modest increase in U.S. retail sales in the month of June. The Commerce Department said retail sales crept up by 0.2 percent in June after climbing by an upwardly revised 1.0 percent in May.

A report released by the Labor Department on Thursday showed first-time claims for U.S. unemployment benefits unexpectedly dipped in the week ended July 11th. The Labor Department said initial jobless claims fell to 208,000, a decrease of 8,000 from the previous week's revised level of 216,000. Economists had expected jobless claims to rise to 220,000.

The UK economy expanded at a marginal pace in May as the service sector provided momentum but renewed tensions in the Middle East threaten the outlook. Gross domestic product grew unexpectedly by 0.1 percent, offsetting a 0.1 percent fall in April, which was the first drop since October 2025, the Office for National Statistics reported Thursday. GDP was forecast to remain flat in May.

The euro area trade gap increased notably in May on widening energy deficit, official data revealed Thursday. The trade balance posted a shortfall of EUR 7.8 billion in May compared to a deficit of EUR 1.2 billion in April and a surplus of EUR 15.0 billion in May 2025, Eurostat reported.

The New Zealand dollar strengthened against other major currencies in the early European session on Thursday, as investors are anticipating at least one more rate increase by the Reserve Bank of New Zealand or the RBNZ this year.

The Bank of Korea raised its benchmark interest rate for the first time since 2023 on Thursday as inflation is projected to stay above 2 percent target for a considerable time. The Monetary Policy Board of the Bank of Korea unanimously decided to hike the base rate by 25 basis points to 2.75 percent.

A report released by the Federal Reserve Bank of New York on Wednesday showed regional manufacturing activity has picked up considerably in the month of July. The New York Fed said its general business conditions index jumped to 15.6 in July from 5.7 in June, with a positive reading indicating growth. Economists had expected the index to climb to 8.6.

The Bank of Canada on Wednesday announced its widely expected decision to once again leave interest rates unchanged. The Canadian central bank said it decided to hold its target for the overnight rate at 2.25 percent, with the Bank Rate at 2.50 percent and the deposit rate at 2.20 percent.

Producer prices in the U.S. decreased by more than expected in the month of June, according to a report released by the Labor Department on Wednesday. The Labor Department said its producer price index for final demand fell by 0.3 percent in June after climbing by a downwardly revised 0.6 percent in May.

The antipodean currencies such as the Australia and the New Zealand dollars strengthened against their major currencies in the European session on Wednesday, as the crude oil prices traded higher as the U.S and Iran escalated a standoff over control of the Strait of Hormuz, raising fears of prolonged disruptions to energy supplies.

Eurozone industrial output declined unexpectedly in May largely due to the fall in durable consumer goods production, official data revealed Wednesday. Industrial production slid 0.2 percent month-on-month, in contrast to the 0.3 percent rise in April. This was the first decline in four months and came in contrast to the 0.3 percent expected increase.

China's economy logged its weakest expansion since the final quarter of 2022 on declining investment and subdued domestic consumption, underscoring the need for stimulus measures to support growth. Gross domestic product posted an annual growth of 4.3 percent in the second quarter after rising 5.0 percent in the preceding period, the National Bureau of Statistics reported Wednesday.

Largely reflecting a sharp pullback in energy prices, the Labor Department released a report on Tuesday showing consumer prices in the U.S. decreased by much more than expected in the month of June. The Labor Department said its consumer price index fell by 0.4 percent in June after climbing by 0.5 percent in May. Economists had expected consumer prices to edge down by 0.1 percent.

China's exports growth accelerated sharply in June, driven by robust demand for hi-tech products, suggesting that foreign demand provided momentum to economic growth in the second quarter. Exports advanced 27.0 percent on a yearly basis after rising 19.4 percent expansion in May, the General Administration of Customs said Tuesday.

The commodity-linked currencies such as Australia, the New Zealand and the Canadian dollars strengthened against their major currencies in the Asian session on Tuesday, as the crude oil prices surged amid intense attacks between the U.S. and Iran over the weekend, renewing Middle East tensions, fueling global inflationary and the possibility of higher interest rates. In addition, contrasting claims by both nations over control of the Strait of Hormuz led to a decline in vessel traffic.

The U.S. Dollar recorded a mixed performance against major currencies during the week ended July 10 as uncertainty about the Federal Reserve's monetary policy trajectory as well as safe haven demand triggered by the reignited Middle East conflict swayed market sentiment.

The Canadian dollar strengthened against other major currencies in the Asian session on Monday, as the crude oil prices climbed after the military attacks between Iran and the United States over the weekend.

The yen strengthened against other major currencies in the Asian session on Friday, following news that Japan intends to encourage pension funds to enhance their holdings in local financial assets.

The antipodean currencies such as the Australia and the New Zealand dollars strengthened against their major currencies in the Asian session on Friday as Asian stock markets traded higher, boosted by the surge in semiconductor and AI stocks amid reports that the $28 billion SK Hynix IPO in the U.S. was heavily oversubscribed. Speculation that the escalation of hostilities between the U.S. and Iran will be limited is also aiding market sentiment.

Existing home sales in the U.S. unexpectedly pulled back sharply in the month of June, according to a report released by the National Association of Realtors on Thursday. NAR said existing home sales tumbled by 2.4 percent to an annual rate of 4.09 million in June after surging by 3.7 percent to an upwardly revised rate of 4.19 million in May.