With the effects of recent hurricanes and the since-resolved strike at Boeing (BA) continuing to weigh on growth, the Federal Reserve released a report on Friday showing U.S. industrial production decreased in line with economist estimates in the month of October.

A report released by the Federal Reserve Bank of New York on Friday showed regional manufacturing activity has seen a substantial turnaround in the month of November. The New York Fed said its general business conditions index skyrocketed to a positive 31.2 in November from a negative 11.9 in October, with a positive reading indicating growth.

The Labor Department released a report on Friday showing an unexpected increase by import prices in the U.S. in the month of October. The report said import prices rose by 0.3 percent in October after falling by 0.4 percent in September. Economists had expected import prices to edge down by 0.1 percent.

Partly reflecting a jump in sales by motor vehicle and parts dealers, the Commerce Department released a report on Friday showing retail sales in the U.S. increased by slightly more than expected in the month of October. The Commerce Department said retail sales rose by 0.4 percent in October after growing by an upwardly revised 0.8 percent in September.

The Eurozone economic growth is projected to pick up next year with acceleration of domestic demand despite risks to global trade from protectionist measures. In the Autumn Forecast, the European Commission retained the economic growth outlook for 2024 at 0.8 percent. The currency bloc continued to grow at a subdued pace through the second and third quarters amid easing inflationary pressures.

The British pound weakened against other major currencies in the European session on Friday, after data showed a sharp slowdown in the third quarter growth.

The Canadian dollar weakened against other major currencies in the European session on Friday, as crude oil prices declined amid worries about oversupply by growing U.S. crude stocks.

China industrial production growth slowed unexpectedly in October and the decline in property investment deepened but retail sales growth accelerated as recent stimulus measures strengthened consumer sentiment. Industrial production posted an annual growth of 5.3 percent in October after rising 5.4 percent in September, the National Bureau of Statistics said Friday.

In a blow to Chancellor Rachel Reeves, the UK economy grew only marginally in the third quarter on weaker growth in services output, data from the Office for National Statistics revealed Friday. Gross domestic product grew 0.1 percent sequentially, following growth of 0.5 percent in the second quarter and was also weaker than the forecast of 0.2 percent.

The Japanese yen weakened against other major currencies in the Asian session on Friday, as weak GDP data dampened expectations for more rate hikes by the Bank of Japan.

Quarterly national accounts from the UK and final inflation from France and Italy are due on Friday, headlining a busy day for the European economic news. At 2.00 am ET, the Office for National Statistics publishes UK GDP data for the third quarter and industrial output and foreign trade figures for September. The economy is forecast to grow 0.2 percent sequentially after rising 0.5 percent in se

The U.S. dollar climbed to a new 52-week high on Thursday with the latest set of economic data reducing the prospects of aggressive rate cuts by the Federal Reserve. Hawkish comments from Fed Chair Jerome Powell contributed as well to the dollar's rise.

Following the Federal Reserve's decision to lower interest rates by a quarter point last week, Fed Chair Jerome Powell said in remarks on Thursday that the central bank does not "need to be in a hurry to lower rates" due to the strength of the economy.

First-time claims for U.S. unemployment benefits unexpectedly edged lower in the week ended November 9th, according to a report released by the Labor Department on Thursday. The report said initial jobless claims slipped to 217,000, a decrease of 4,000 from the previous week's unrevised level of 221,000. Economists had expected jobless claims to inch up to 223,000.

After yesterday's consumer price inflation data matched expectations, the Labor Department released a separate report on Thursday showing producer prices in the U.S. also increased in line with economist estimates in the month of October. The Labor Department said its producer price index for final demand rose by 0.2 percent in October following a revised 0.1 percent uptick in September.

The euro area economy expanded as initially estimated in the third quarter and employment growth showed an improvement, data from Eurostat showed on Thursday. Gross domestic product climbed 0.4 percent sequentially, which was double the 0.2 percent expansion seen in the second quarter, flash estimate showed.

The Antipodean currencies such as the Australia and the New Zealand dollars weakened against their major currencies in the Asian session on Thursday, as traders fretted about the impact of U.S. President-elect Donald Trump's proposed tariffs on inflation and interest rates. The U.S. dollar also strengthened against major currencies in the region.

Flash GDP and industrial production from the euro area and the account of the monetary policy meeting from the European Central Bank are the top economic news due on Thursday. At 3.00 am ET, Spain's INE is scheduled to issue final inflation data for October. The flash estimate showed that consumer price inflation rose to 1.8 percent from 1.5 percent in the previous month.

The U.S. dollar stayed a bit sluggish in the European session on Wednesday, but gained in strength in the New York session on bets interest rates will remain high as Donald Trump's policies might rekindle inflation. Data showing an uptick in consumer price inflation contributed as well to the dollar's rise.

A closely watched report released by the Labor Department on Wednesday showed consumer prices in the U.S. rose in line with economist estimates in the month of October. The Labor Department said its consumer price index crept up by 0.2 percent in October, matching the upticks seen in each of the three previous months as well as expectations.

The U.S. dollar climbed higher on Tuesday, extending its dominance against his major counterparts, amid bets rate cuts will not be any aggressive next year as prices may move higher under Donald Trump administration due to proposed increase in tariffs.

German economic sentiment deteriorated in November as the victory of Donald Trump in the US presidential election and the collapse of the German government coalition damped expectations, survey results from the think tank ZEW showed Tuesday. The ZEW Indicator of Economic Sentiment dropped to 7.4 in November from 13.1 in the previous month. The index was expected to remain broadly unchanged at 13

The Chinese yuan weakened against the U.S. dollar in the European session on Tuesday, amid concerns about possible tariffs on Chinese imports by U.S. President-Elect Donald Trump.

The British pound weakened against other major currencies in the European session on Tuesday, after the U.K. unemployment rate rose more than expected in the third quarter and wage growth softened, adding pressure on the Bank of England to cut interest rates further.

The UK unemployment rate rose more than expected in the third quarter and wage growth softened, adding pressure on the Bank of England to cut interest rates further. The unemployment rate rose to 4.3 percent in the September quarter from 4.0 percent in three months to August period, the Office for National Statistics reported Tuesday. The rate was seen at 4.1 percent.