The U.S. dollar was trading mixed on Thursday. After initially posting strong gains, the greenback eased towards the close of the day. Economic data showed that UK’s retail sales fell 0.5% on the month missing estimates of a 0.1% increase. In the U.S., the Philly Fed manufacturing index rose to 25.7 on the indexbeating estimates of 21.6.
The economic data for the day ahead will see the release of the German PPI figures. Economists forecast that producer prices rose 0.3% on the month, marking a slower pace of increase compared to 0.5% registered the month before.
In the NY trading session, Canada will be releasing its inflation and retail sales figures. Headline inflation rate as measured by CPI is expected to advance 0.1% on the month, marking the same pace of increase as the month before. Retail sales are tipped to rise 1.0% on the month following a 1.2% decline the month before. Core retail sales are expected to advance 0.6% after posting a 0.1% decline in the previous month.
