EUR/USD
The euro was slightly lower against the dollar on Thursday following the release of some mixed U.S. economic reports after data earlier in the day showed that euro zone private sector output slowed to its lowest in 16 months. The euro remained weaker after data earlier showed that the euro zone’s services purchasing managers’ index fell to 51.3 this month, while the manufacturing PMI slid to 50.4 from 50.6 in October. Germany private sector activity fell to a 16-month low, while French private sector output contracted for the seventh consecutive month. The weak data added to gloom over the outlook for the global economy, coming after reports showing that factory activity in China slowed to a six month low in November and Japan fell into recession in the third quarter.
GBP/USD
The pound rose against the dollar on Thursday after U.K. retail sales numbers beat expectations, though an upbeat regional U.S. manufacturing barometer steadied the greenback, sending the pair dipping into negative territory at times. The U.K. Office for National Statistics reported earlier that retail sales increased 0.8% last month, beating forecasts for a 0.4% gain. September retail sales fell by 0.4%.Core retail sales, which exclude automobile sales, increased by 0.8% last month, also outpacing forecasts for a 0.3% rise, after falling 0.3% the previous month.
USD/JPY
The dollar was little changed against a basket of other major currencies on Thursday, as the release of strong manufacturing data from Philadelphia was offset by mixed U.S. jobless claims and inflation reports. USD/JPY hit highs of 118.98, the most since August 2007, before pulling back to 118.15, up 0.18% for the day. Earlier Thursday, the U.S. Department of Labor said the number of individuals filing for initial jobless benefits in the week ending November 15 decreased by 2,000 to 291,000 from the previous week's revised total of 293,000.
