ORBEX | Dec 17, 2018 02:17AM ET
The U.S. dollar posted strong gains on Friday as investors piled into the greenback amid global concerns. This led to most of the currencies giving up the gains logged from earlier in the week.
Economic data on the day showed that the Eurozone flash manufacturing PMI was at 51.4, which was lower than the forecasts of 51.9. Flash services PMI was also the same, rising to 51.4 and came in below than estimates of 53.4.
Data from the U.S. showed that core retail sales rose 0.2%, matching estimates. Previous month's data rose 1.0%. Headline retail sales were up 0.2% which was better than the forecasts of a 0.1% increase. Past month's data was revised higher to show a 1.1% increase.
Industrial production data showed a 0.6% increase beating forecasts of a 0.3% increase. The data follows the downward revised estimates of a 0.2% decline.
Looking ahead, the economic data on the day will see the Eurozone's final inflation data coming out for November. Inflation is forecast to remain steady at 2.0%. Data for the rest of the day covers the second tier data.
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