Retail sales and public sector finances from the UK and monetary policy decision from Russia are due on Friday. At 2.00 am ET, the Office for National Statistics releases UK retail sales and public sector net borrowing figures.

A report released by the Conference Board on Thursday showed its reading on leading U.S. economic indicators edged higher for the second straight month in May. The Conference Board said its leading economic index inched up by 0.1 percent in May after rising by 0.2 percent in April. The uptick matched economist estimates.

Philadelphia-area manufacturing activity expanded overall in the month of June, according to a report released by the Federal Reserve Bank of Philadelphia on Thursday. The Philly Fed said its diffusion index for current general activity shot up to a positive 10.3 in June from a negative 0.4 in May, with a positive reading indicating growth.

The Bank of England left its key interest rate unchanged on Thursday as inflation slowed unexpectedly and unemployment declined, and the US-Iran peace deal lowered the upside risks to inflation. The Monetary Policy Committee, led by Governor Andrew Bailey, voted 7-2 to hold the bank rate at 3.75 percent, which is the lowest rate since June 2023.

A report released by the Labor Department on Thursday showed a modest pullback in first-time claims for U.S. unemployment benefits in the week ended June 13th. The Labor Department said initial jobless claims dipped to 226,000, a decrease of 4,000 from the previous week's revised level of 230,000. Economists had expected jobless claims to edge down to 225,000.

The Swiss National Bank left its policy rate unchanged on Thursday as inflation continues to remain well within the target. The central bank left its policy rate at zero percent, in line with market expectations. The SNB had lowered the key rate by 175 basis points since March 2024.

The British pound weakened against other major currencies in the European session on Thursday, as traders await the Bank of England (BOE) monetary policy decision due later in the day.

The Philippine central bank lifted its key interest rates by 25 basis points on Thursday to control inflation expectations and mitigate the risk of second-round effects. The Monetary Board of the Bangko Sentral ng Pilipinas decided to lift the reverse repurchase rate by 25 basis points to 4.75 percent. The interest rates on the overnight deposit and lending facilities were adjusted.

The UK unemployment rate dropped in the three months to April and wages grew more than expected, official data revealed Thursday. The jobless rate fell to 4.9 percent in the three months to April from 5.0 percent in the three months to March, the Office for National Statistics said. The rate was expected to remain unchanged at 5.0 percent.

The Bank of England and Swiss National Bank announce monetary policy decisions on Thursday, headlining a hectic day for the European economic news. At 2.00 am ET, the Office for National Statistics releases UK unemployment data. The jobless rate is seen unchanged at 5.0 percent in the three months to April.

Following Kevin Warsh's first monetary policy meeting as Federal Reserve chairman, the central bank on Wednesday announced its widely expected decision to leave interest rates unchanged. The Fed said it decided to maintain the target range for the federal funds rate at 3.50 to 3.75 percent, citing its dual goals of maximum employment and inflation at the rate of 2 percent over the longer run.

Business inventories in the U.S. increased in line with economist estimates in the month of April, according to a report released by the Commerce Department on Wednesday. The Commerce Department business inventories climbed by 0.5 percent in April after jumping by an upwardly revised 1.0 percent in March.

A report released by the National Association of Realtors on Wednesday showed a substantial increase in pending home sales in the U.S. in the month of May. NAR said its pending home sales spiked by 3.8 percent to 76.8 in May after rising by 0.3 percent to a downwardly revised 74.0 in April. Economists had expected pending home sales to advance by 0.9 percent.

Retail sales in the U.S. increased by much more than expected in the month of May, according to a report released by the Commerce Department on Wednesday. The Commerce Department said retail sales grew by 0.9 percent in May after rising by a downwardly revised 0.4 percent in April. Economists had expected retail sales to climb by 0.5 percent.

Despite transport cost pressures, UK consumer price inflation remained stable in May, ahead of the Bank of England's policy announcement on Thursday. Consumer prices registered an annual increase of 2.8 percent, the same rate as seen in April, the Office for National Statistics said Wednesday. Prices were expected to climb 3.0 percent.

The British pound weakened against other major currencies in the European session on Wednesday, following the release of U.K. consumer inflation data in May.

Consumer and producer prices data from the UK is top economic news due on Wednesday. At 2.00 am ET, the Office for National Statistics releases UK consumer and producer prices for May. Inflation is expected to rise to 3.0 percent from 2.8 percent in April. Output price inflation is seen unchanged at 4.0 percent in May.

A report released by the Labor Department on Tuesday showed import prices in the U.S. shot up by much more than expected in the month of May. The Labor Department said import prices jumped by 1.9 percent in May after leaping by an upwardly revised 2.0 percent in April.

The Commerce Department released a report on Tuesday showing another steep drop in new residential construction in the U.S. in the month of May. The report said housing starts plunged by 15.4 percent to an annual rate of 1.177 million in May after tumbling by 8.5 percent to a revised rate of 1.392 million in April.

Economic sentiment in Germany returned to positive territory in June as financial market experts expect an end to the Iran conflict, survey results from the Mannheim-based Centre for European Economic Research, or ZEW, showed Tuesday. The ZEW indicator of economic sentiment advanced more-than-expected to 10.5 in June from -10.2 in the previous month. The score was seen at -5.8.

The Bank of Japan decided to raise its benchmark interest rate by a quarter-point to its highest level in 31 years, and to halt government bond purchase reductions next year. The policy board of BoJ voted 7-1 to raise the interest rate to 1.00 percent from 0.75 percent. The board signaled its commitment to further monetary policy tightening to support its price stability target.

The commodity currencies such as Australia, the New Zealand and the Canadian dollars weakened against their major currencies in the Asian session on Tuesday, as investors still remain cautious despite US President Donald Trump's announcement that a memorandum of understanding (MoU) has been reached to terminate the crisis and reopen the blockaded Strait of Hormuz.

China's retail sales declined for the first time since 2022 on subdued domestic demand and fixed asset investment logged a sharper-than-expected fall, while industrial production remained a bright spot, official data revealed Tuesday. Retail sales decreased 0.6 percent from a year ago in May, the National Bureau of Statistics reported.

The Reserve Bank of Australia left its benchmark interest rate unchanged on Tuesday as policymakers evaluate the effects of three consecutive rate hikes and the impact of oil supply disruption. The policy board, governed by Michele Bullock, unanimously voted to hold the cash rate target at 4.35 percent. The bank had lifted the policy rate by 25 basis points each in February, March and May.

Homebuilder confidence has seen a modest deterioration in the month of June, according to a report released by the National Association of Home Builders on Monday. The report said the NAHB/Wells Fargo Housing Market Index dipped to 35 in June after jumping to 37 in May. Economists had expected the index to edge down to 36.