The dollar dropped against all of its major rivals Friday morning, following the release of several weaker than expected economic reports. The U.S. currency has pared its losses over the course of the trading day and is now turning in a mixed performance. The buck is down against the Euro and the Japanese Yen, but has turned positive against the British pound.
After reporting much stronger than expected U.S. retail sales growth in the previous month, the Commerce Department released a report on Friday showing that retail sales were unexpectedly flat in the month of July.
The Commerce Department said retail sales were virtually unchanged in July after climbing by an upwardly revised 0.8 percent in June. Economists had expected sales to rise by 0.4 percent compared to the 0.6 percent increase originally reported for the previous month.
Partly reflecting a steep drop in prices for trade services, the Labor Department released a report on Friday showing an unexpected decrease in U.S. producer prices in the month of July. The Labor Department said its producer price index for final demand fell by 0.4 percent in July after rising by 0.5 percent in June. Economists had expected the index to inch up by 0.1 percent.
Consumer sentiment in the U.S. has improved by less than expected in the month of August, according to a preliminary report released by the University of Michigan on Friday. The report said the consumer sentiment index inched up to 90.4 in August from the final July reading of 90.0. Economists had expected the index to climb to 91.5.
Business inventories in the U.S. rose by slightly more than expected in the month of June, the Commerce Department revealed a report released on Friday. The Commerce Department said business inventories edged up by 0.2 percent in June, matching the uptick seen in May. Economists had expected inventories to inch up by 0.1 percent.
The dollar dropped to over a 1-week low of $1.1221 against the Euro Friday morning, but has since rebounded to around $1.1165.
Eurozone economic growth slowed as estimated in the second quarter, as France and Italy failed to expand, amid “Brexit” concerns. Gross domestic product rose 0.3 percent from the first quarter, when it climbed 0.6 percent, flash estimate published by Eurostat showed Friday. A similar slower growth was last seen in the third quarter of 2015.
Eurozone industrial production recovered at a stronger than expected pace in June, figures from Eurostat revealed Friday. Industrial output climbed 0.6 percent on a monthly basis in June, reversing a 1.2 percent fall in May and slightly bigger than the expected 0.5 percent increase.
Germany’s economic growth eased less than expected in the second quarter, underpinned by exports and domestic demand, suggesting that concerns about “Brexit” were less damaging.
Gross domestic product grew 0.4 percent quarter-over-quarter in the second quarter, data from Destatis showed Friday. This marked a slowdown from the 0.7 percent growth in the first quarter. Economists had forecast the pace of growth to ease to 0.2 percent.
Germany’s consumer prices increased for the third straight month in July as initially estimated, latest figures from Destatis showed Friday. The consumer price index rose 0.4 percent year-over-year in July, confirming the flash data, following a 0.3 percent climb in the previous month.
France’s non-farm payroll continued to grow in the second quarter amid sustained job creation in the services sector, the statistical office INSEE said Friday. Employment in the non-farm sectors grew 0.2 percent or by 24,100 jobs from the previous quarter. In the first quarter, 37,300 jobs were created.
The buck fell to a low of $1.3034 against the pound sterling Friday morning, but has since bounced back to a 1-month high of $1.2910.
U.K. construction output declined at a slower pace in June, the Office for National Statistics showed Friday. Construction output dropped 0.9 percent in June from May, when it decreased 2 percent. This was the smallest drop in four months. Economists had forecast a 1 percent fall for June.
The greenback slipped to a 1-week low of Y100.830 against the Japanese Yen this morning, but has since risen back to around Y101.090.
You made some first rate points there. I looked on the web for the difficulty and found most individuals will go together with with your website.
My husband and i ended up being absolutely cheerful when Ervin could finish off his investigation using the ideas he came across in your web page. It is now and again perplexing to just be handing out secrets and techniques which often other people could have been making money from. And we also take into account we’ve got the website owner to thank for this. All of the illustrations you’ve made, the simple website menu, the friendships you will make it easier to promote – it is mostly sensational, and it is facilitating our son and the family do think this issue is exciting, which is pretty important. Thanks for all the pieces!
Spot on with this write-up, I actually suppose this website needs much more consideration. I抣l most likely be once more to read much more, thanks for that info.
I抎 have to examine with you here. Which is not one thing I normally do! I take pleasure in reading a put up that will make people think. Also, thanks for allowing me to comment!
Whats up! I just want to give a huge thumbs up for the nice information you’ve gotten right here on this post. I will probably be coming again to your blog for more soon.
Whats up! I just wish to give an enormous thumbs up for the good information you’ve gotten here on this post. I will probably be coming again to your blog for more soon.
I used to be very pleased to seek out this net-site.I needed to thanks to your time for this wonderful learn!! I positively having fun with every little bit of it and I’ve you bookmarked to check out new stuff you weblog post.
I precisely desired to thank you so much again. I do not know what I would have achieved without the type of secrets documented by you on this theme. Completely was the fearsome setting for me personally, but understanding this specialized style you solved it forced me to leap for happiness. I am happy for this advice and thus expect you realize what an amazing job you happen to be accomplishing educating people today using your blog post. Most likely you’ve never come across all of us.
An attention-grabbing discussion is value comment. I feel that it is best to write extra on this topic, it might not be a taboo subject however usually persons are not sufficient to speak on such topics. To the next. Cheers
Hey! I simply want to give an enormous thumbs up for the good info you’ve gotten right here on this post. I might be coming again to your weblog for more soon.