The U.S. dollar was seen posting gains on Friday as price action remained strong toward the close of the week. The economic data was quiet for the most part. Switzerland’s PPI figures released earlier in the day showed a 0.2% increase on the month as expected.
The U.S. import prices fell 0.4% missing estimates of a 0.1% increase instead. Previous month’s data was revised higher to 0.9%.
Earlier in the day, China’s GDP report showed that the economy advanced 6.7% matching estimates. Industrial production was however weaker, rising just 6.0% and falling short of the 6.5% forecast.
The economic dataincrease on the month as expected. for the day includes the U.S. retail sales figures. Economists forecast that headline retail sales increased 0.4% on the month. This marks a slower pace of increased compared to the 0.8% gain seen the month before. Core retail sales are also forecast to rise 0.4%.
New Zealand will be releasing its quarterly CPI later tonight. Forecasts point to a 0.5% increase in inflation during the second quarter.
