The U.S. dollar was seen posting a recovery on Thursday. The currency gained amid economic data from U.S. showed that the core PCE price index increased 0.2% on the month. Personal spending data showed a 0.4% increase as expected while personal income increased 0.3% matching estimates.
Data from Canada showed that the monthly GDP numbers stayed flat. This missed estimates of a 0.1% that was forecast.
Looking ahead, the economic data for the day will see the release of the German retail sales for the month. Retail sales are forecast to fall 0.2%.
The Eurozone’s flash inflation estimates are due later in the day. Headline inflation is forecast to rise 2.1%, the same pace as the previous month. Core inflation is also expected to rise 1.1%, rising at the same pace as the month before.
The NY trading session is relatively quiet with only the Chicago PMI expected to slip to 63.0.
