U.K. consumer price inflation accelerated in July as the Middle East crisis stoked household energy prices, official data showed Wednesday. The consumer price index posted an annual growth of 2.9 percent in July, faster than the 2.6 percent rise in June, the Office for National Statistics said. This was the highest in four months and matched economists' expectations.

Iceland's Central Bank lifted its benchmark rate to 8.00% for the third time this year, bringing total increases to 75 basis points since March. The move addresses elevated inflation and inflation expectations despite global economic uncertainties.

The U.S. dollar weakened against other major currencies in the European session on Wednesday, as traders await the release of the minutes of July's Federal Reserve (Fed) monetary policy meeting, due later on the day.

The National Association of Realtors released a report on Tuesday showing pending home sales in the U.S. unexpectedly saw further downside in the month of July. NAR said its pending home sales index slumped by 2.3 percent to 71.2 in July after tumbling by 4.8 percent to a revised 72.9 in June.

While the Federal Reserve released a report on Tuesday showing industrial production in the U.S. rose by slightly less than expected in the month of July, the report also showed an upward revision to the increase seen in June. The Fed said industrial production crept up by 0.2 percent in July after climbing by an upwardly revised 0.3 percent in June.

After reporting a spike in new residential construction in the U.S. in the previous month, the Commerce Department released a report on Tuesday showing housing starts plummeted by much more than expected in the month of July.

The Labor Department released a report on Tuesday showing an unexpected decline in import prices in the U.S. in the month of July. The report said import prices fell by 0.4 in July following a revised 0.3 percent decrease in June. Economists had expected import prices to inch up by 0.1 percent compared to the 0.3 percent increase originally reported for the previous month.

The UK unemployment rate remained stable at 4.9% in the three months to June, while job vacancies fell by 6,000 and payroll employment declined 94,000 year-over-year, signaling weakness in the labor market.

German economic confidence rose to a six-month high in August driven by good company results and robust exports, survey results from the Mannheim-based Centre for European Economic Research, or ZEW, showed Tuesday. The ZEW indicator of economic sentiment advanced to 34.2 in August from 26.3 in July. This was the highest score since February and also better than forecast of 30.1.

The British pound weakened against other major currencies in the European session on Tuesday, following the release of disappointing U.K. employment data.

The National Association of Home Builders released a report on Monday unexpectedly showing a modest improvement in U.S. homebuilder confidence in the month of August. The report said the NAHB/Wells Fargo Housing Market Index ticked up to 35 in August from 34 in July. Economists had expected the index to edge down to 33.

A slew of economic data releases from the U.S. last week dimmed rate hike expectations from the Federal Reserve, limiting the U.S. Dollar's rebound against major currencies.

New York manufacturing activity grew strongly in the month of August, according to a report released by the Federal Reserve Bank of New York on Monday. The New York Fed said its general business conditions index climbed to 20.6 in August from 15.6 in July, with a positive reading indicating growth. Economists had expected the index to fall to 11.0.

Thailand's economy logged a slower growth in the second quarter on softer consumption and tourism related activities but the outlook for the year was upgraded citing strong investment, spending and exports. Gross domestic product grew 1.9 percent from the previous year, which was slower than the 2.8 percent expansion posted in the first quarter

With a decrease in retail inventories offsetting increases in manufacturing and wholesale inventories, the Commerce Department released a report on Friday showing business inventories in the U.S. were unexpectedly flat in the month of June. The Commerce Department said business inventories came in virtually unchanged in June after climbing by an upwardly revised 0.4 percent in May.

Preliminary data released by the University of Michigan on Friday showed consumer sentiment in the U.S. has deteriorated by much more than anticipated in the month of August. The University of Michigan said its consumer sentiment index tumbled to 51.0 in August after surging to 55.2 in July. Economists had expected the index to dip to 54.2.

A report released by the Commerce Department on Friday showed an unexpected decline in retail sales in the U.S. in the month of July. The Commerce Department said retail sales fell by 0.6 percent in July after rising by 0.2 percent in June. Economists had expected retail sales to inch up by 0.1 percent.

Malaysia's economic growth strengthened more than estimated in the second quarter, driven by private consumption expenditure and investment, official data revealed Friday. Gross domestic product expanded 6.0 percent in the second quarter, which was revised up from the initial estimate of 5.0 percent, the Department of Statistics said. This followed first quarter's 5.4 percent growth.

A report released by the Labor Department on Thursday showed producer prices in the U.S. unexpectedly came in flat in the month of July. The Labor Department said its producer price index for final demand was unchanged in July after edging down by a revised 0.1 percent in June.

First-time claims for U.S. unemployment benefits climbed by more than expected in the week ended August 8th, according to a report released by the Labor Department on Thursday. The report said initial jobless claims rose to 209,000, an increase of 9,000 from the previous week's revised level of 200,000. Economists had expected jobless claims to inch up to 203,000.

The UK economy grew 0.4% in Q2 as household consumption and gross fixed capital formation drove expansion. Household spending rose 0.3% while business investment climbed 1.7%. Government spending declined 0.3%, the Office for National Statistics reported.

The antipodean currencies such as the Australia and the New Zealand dollars weakened against other major currencies in the Asian session on Thursday, as traders remain cautious amid the resurgence of Middle East tensions and the resulting recent spike in crude oil prices, fueling inflation concerns. Fairly tame US consumer price data eased concerns about the outlook for interest rates as inflation rose in line with estimates.

Consumer prices in the U.S. crept slightly higher in the month of July, according to a closely watched report released by the Labor Department on Wednesday. The report said consumer prices inched up by 0.1 percent in July after falling by 0.4 percent in June. The uptick in consumer prices matched economist estimates.

The New Zealand dollar weakened against other major currencies in the European session on Wednesday, as European stocks traded lower as oil prices remain elevated on growing concerns about prolonged disruptions to supply.

After reporting a notable pullback in existing home sales in the U.S, in the previous month, the National Association of Realtors released a report on Tuesday showing existing home sales saw further downside in the month of July. NAR said existing home sales tumbled by 1.7 percent to an annual rate of 4.06 million in July.