The New Zealand dollar weakened against other major currencies in the Asian session on Friday, as traders speculate additional easing by the Reserve Bank of New Zealand (RBNZ).

The Federal Reserve Bank of Philadelphia released a report on Thursday showing a steep drop by its reading on regional manufacturing activity in the month of April. The Philly Fed said its diffusion index for current general activity plummeted to a negative 26.4 in April from a positive 12.5 in March, with a negative reading indicating contraction.

First-time claims for U.S. unemployment benefits unexpectedly saw a modest decrease in the week ended April 12th, according to a report released by the Labor Department on Thursday. The report said initial jobless claims slipped to 215,000, a decrease of 9,000 from the previous week's revised level of 224,000.

The European Central Bank slashed its key interest rates by a quarter basis point on Thursday, as expected, as policymakers assessed that disinflation remains on track but acknowledged that the significant uncertainty due to the escalation in the tariff war is going to hurt the Eurozone economic outlook.

The European Central Bank slashed its key interest rates by a quarter basis point on Thursday, as expected, as policymakers assessed that disinflation remains on track but acknowledged that the significant uncertainty due to the escalation in the tariff war is going to hurt the Eurozone economic outlook.

A report released by the Commerce Department on Thursday showed new residential construction in the U.S. pulled back by much more than expected in the month of March. The Commerce Department said housing starts plunged by 11.4 percent to an annual rate of 1.324 million in March after surging by 9.8 percent to a revised rate of 1.494 million in February.

The Turkish central bank raised its key interest rate in a surprise move on Thursday, reversing the sharp easing cycle that began last December, and also expressed preparedness to keep the policy tight. The Monetary Policy Committee, headed by Yasar Fatih Karahan, decided to raise the policy rate to 46.0 percent from 42.5 percent.

Japan exports growth weakened more than expected in March partly reflecting the impact of US trade tariffs, while imports recovered moderately, official data showed on Thursday. Exports increased 3.9 percent on a yearly basis in March, slower than the 11.4 percent rise in February, the Ministry of Finance revealed.

The Australian dollar weakened against other major currencies in the Asian session on Thursday, following the release of Australia's employment data showing a smaller-than-expected rise in employment in March.

Australia's employment rebounded in the first quarter and the jobless rate rose only slightly, suggesting that the labor market remained resilient, data from the Australian Bureau of Statistics showed Thursday. The unemployment rate rose to 4.1 percent from downwardly revised 4.0 percent in the December quarter. The rate was expected to advance to 4.2 percent.

New Zealand inflation accelerated for the first time in nearly three years in the first quarter but it remained well within the central bank target, official data showed on Thursday. Consumer price inflation rose to 2.5 percent in the first quarter from 2.2 percent in the preceding period, Sats NZ reported.

The Bank of Korea kept its interest rate unchanged on Thursday as uncertainty about future growth increased due to the changes in the US trade policies and the implementation of government stimulus measures, while the currency showed a high volatility over a short period of time. The monetary policy board, governed by Rhee Chang Yong, decided to maintain the Base Rate at 2.75 percent.

A report released by the Commerce Department on Wednesday showed business inventories in the U.S. increased in line with economist estimates in the month of February. The Commerce Department said business inventories rose by 0.2 percent in February after climbing by 0.3 percent in January.

The National Association of Home Builders released a report on Wednesday unexpectedly showing a slight improvement by U.S. homebuilder confidence in the month of April. The report said the NAHB/Wells Fargo Housing Market Index inched up to 40 in April after falling to 39 in March. Economists had expected the index to dip to 37.

Reflecting a steep drop by utilities output, the Federal Reserve released a report on Wednesday showing U.S. industrial production decreased by slightly more than expected in the month of March. The Fed said industrial production fell by 0.3 percent in March after climbing by an upwardly revised 0.8 percent in February.

Following a series of interest rate cuts over the past several months, the Bank of Canada on Wednesday announced its widely expected decision to leave interest rates unchanged. The Bank of Canada said it decided to maintain its target for the overnight rate at 2.75 percent, with the Bank Rate at 3 percent and the deposit rate at 2.70 percent.

Retail sales in the U.S. saw a sharp increase in the month of March, according to a report released by the Commerce Department on Wednesday. The Commerce Department said retail sales shot up by 1.4 percent in March after inching up by 0.2 percent in February. Economists had expected retail sales to jump by 1.3 percent.

The Canadian dollar strengthened against most major currencies in the European session on Wednesday, as the Bank of Canada (BoC) is expected to keep its policy rate unchanged, halting seven consecutive interest rate cuts.

Eurozone inflation slowed in March, as initially estimated, as energy prices declined for the first time in four months and services inflation softened for the third straight month. The harmonized index of consumer prices climbed 2.2 percent on a yearly basis in March, slightly slower than the 2.3 percent rise in February, final data from Eurostat showed on Wednesday.

The U.S. dollar weakened against other major currencies in the early European session on Wednesday, amid declining confidence in the U.S. economy and rising speculations that the Federal Reserve (Fed) will shortly start a new cycle of rate cuts.

UK consumer price inflation weakened more than expected to a three-month low in March ahead of an increase in energy bills in April, the Office for National Statistics said on Wednesday. Consumer prices registered an annual growth of 2.6 percent, slower than the 2.8 percent increase in February. Prices were forecast to climb 2.7 percent.

China's economy logged stronger-than-expected growth in the first quarter as fiscal support helped to boost domestic demand but escalating trade tariff threats damps the outlook. Gross domestic product grew 5.4 percent year-on-year, data published by the National Bureau of Statistics revealed on Wednesday. This was better than economists' forecast of 5.1 percent.

Consumer price inflation from the UK is the top economic news due on Wednesday, headlining a light day for the European economic news. At 2.00 am ET, the Office for National Statistics releases UK inflation data for March. Inflation is expected to ease to 2.7 percent in March from 2.8 percent in February.

New York manufacturing activity has declined modestly in the month of April, the Federal Reserve Bank of New York revealed in a report released on Tuesday. The New York Fed said its general business conditions index jumped to a negative 8.1 in April after plunging to a negative 20.0 in March, although a negative reading still indicates contraction.

Import prices in the U.S. edged slightly lower in the month of March, according to a report released by the Labor Department on Tuesday. The Labor Department said import prices slipped by 0.1 percent in March after rising by a downwardly revised 0.2 percent in February. Economists had expected import prices to come in unchanged.