The Dollar built on earlier gains Wednesday after inflation figures surprised on the upside for the month of October and as investors grew uneased over White House trade policy in the wake of President Donald Trump's speech to The Economic Club of New York.
Germany’s manufacturing sector remained stuck in recession in October as new orders fell for the 13th month running and factories slashed jobs at the fastest pace in almost 10 years, a survey showed on Monday.
The dollar took a dive against a basket of currencies and the major share indexes opened higher after Fed Chairman Powell's prepared remarks ahead of his testimony whil 2-year yields dropping 7bps in the 5 minutes since the release.
German business sentiment deteriorated in April as the mood among manufacturers "worsened markedly," the Ifo Institute said Wednesday, dampening expectations of an impending pickup in Europe's largest economy.
Consumption in the euro zone appears to be resilient to a recent slowdown and the labor market is also expected to continue expanding, suggesting that growth remains broad-based, the European Central Bank said in its latest Economic Bulletin released on Thursday.