In
Asian trading on Thursday US dollar fell against the major currencies on weak
data release earlier on Europe and the US.
In
the eurozone data revealed that industrial production declined 2.5% in
September, well beyond expectations for a more modest 1.9% decline. This sparked
fears that the eurozone's preliminary gross domestic product rate for the third
quarter will disappoint later Thursday. France, Germany and Italy are also to
release individual GDP reports.
In
the US, Commerce Department reported earlier that retail sales fell by a
seasonally adjusted 0.3% in October, weaker than expectations for a 0.2%
decline. Core retail sales, which exclude automobile sales, came in flat last
month. Analysts were expecting core retail sales to rise 0.2% in October, after
rising by an upwardly revised 1.2% in September. Also the Labor Department
reported that producer prices fell by a seasonally adjusted 0.2% in October,
compared to expectations for a 0.2% increase, after rising 1.1% in September.
The core producer price index declined 0.2% in October, defying expectations for
a 0.1% increase, after coming in September.
Later
today the U.S. is to release reports on initial jobless claims, consumer price
inflation, crude oil stockpiles and data on manufacturing activity in New York
and Philadelphia.
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