The Dollar Index rebounded during the week ended April 24, amidst an uncertain geopolitical situation in the Middle East and lack of clarity about a deal to end the conflict.

German consumer sentiment is set to deteriorate sharply in May as income expectations collapsed due to rising inflation amid the war in Iran, the latest results of the NIM Consumer Climate powered by GfK showed Monday. The forward-looking consumer confidence index fell to -33.3 in May from -28.1 in April. This was the lowest score since February 2023.

Revised data released by the University of Michigan on Friday showed consumer sentiment in the U.S. deteriorated by less than previously estimated in April but still hit a record low. The University of Michigan said its consumer sentiment index for April was upwardly revised to 49.8 from the preliminary reading of 47.6. Economists had expected the index to be unrevised.

Russia's central bank reduced its benchmark rate for the eighth consecutive time to contain rising inflation. The Board of Directors of the Bank of Russia decided to cut its interest rate by 50 basis points to 14.50 percent. The bank said it will assess the need for further key rate cuts at its upcoming meetings depending on sustainability of inflation slowdown.

UK retail sales grew unexpectedly in March largely due to a rise in fuel sales as motorists stocked up on fuel amid the war in the Middle East, the Office for National Statistics reported Friday. Retail sales increased 0.7 percent on a monthly basis in March, reversing a 0.6 percent fall in February. The increase also exceeded economists' expectations of flat growth.

German business confidence declined to its lowest level in nearly six years in April, driven by the supply chain disruptions and energy shocks caused by the war in the Middle East, survey data from the ifo Institute revealed Friday. The business climate index dropped to 84.4 in April from 86.3 in March. The reading hit the lowest since May 2020 but remained above economists' forecast of 85.7.

First-time claims for U.S. unemployment benefits rose by slightly more than expected in the week ended April 18th, according to a report released by the Labor Department on Thursday. The report said initial jobless claims climbed to 214,000, an increase of 6,000 from the previous week's revised level of 208,000.

The UK private sector economy gained momentum in April after posting the weakest growth in six months in March, supported by moderate upturns in both manufacturing production and service sector output, survey data from S&P Global showed Thursday. The composite output index posted 52.0 in April, up from 50.3 in March. A score above 50.0 indicates expansion.

The euro area private sector contracted in April as geopolitical tensions in the Middle East deepened the economic woes, flash survey results from S&P Global revealed Thursday.
The composite output index fell to a 17-month low of 48.6 in April from 50.7 in March. The index fell below the 50.0 no change mark for the first time in 16 months in April.

The euro weakened against other major currencies in the European session on Thursday, as Eurozone business activity unexpectedly slipped into contraction in April as a result of rising energy prices and falling services demand. The ongoing closure of the critical Strait of Hormuz, also led to the downturn of the currency.

Europe's new car registrations logged strong growth in March driven by the surge in demand for battery electric vehicles, the European Automobile Manufacturers' Association, or ACEA, said Thursday. Car sales increased 12.5 percent from a year ago to 1.158 million units in March, with electric and hybrid vehicles accounting for the majority of growth.

A report released by the Commerce Department on Tuesday showed business inventories in the U.S. increased by more than expected in the month of February. The Commerce Department said business inventories climbed by 0.4 percent in February following a revised unchanged reading in January.

Pending home sales in the U.S. increased by much more than expected in the month of March, according to a report released by the National Association of Realtors on Tuesday. NAR said its pending home sales index jumped by 1.5 percent to 73.7 in March after surging by 2.5 percent to an upwardly revised 72.6 in February.

The Commerce Department released a report on Tuesday showing retail sales in the U.S. surged by more than expected in the month of March. The report said retail sales shot up by 1.7 percent in March after climbing by an upwardly revised 0.7 percent in February.

The U.S. dollar dropped against major currencies during the week ended April 17 as a de-escalation in the Middle East war dimmed safe haven demand for the dollar.