Indonesia's central bank lowered its key interest rates unexpectedly on Wednesday to spur economic growth as inflation remains well within the target range amid strengthening rupiah exchange rate. The Board of Governors of Bank Indonesia, headed by Perry Warjiyo decided to cut the seven-day reverse repo rate by 25 basis points to 6.00 percent.

UK consumer prices posted a steady growth and services inflation accelerated further in August, cementing expectations that the Bank of England will pause interest rate cuts on Thursday. The consumer price index gained 2.2 percent from a year ago, the same rate as seen in July, the Office for National Statistics reported Wednesday.

The Australian dollar retreated from recent highs against its major counterparts in the Asian session on Wednesday, as most Asian stocks traded lower, as traders remain cautious ahead of the U.S. Fed's most anticipated monetary policy decision in years later in the day. Uncertainty about the size of interest-rate reduction is weighing on market sentiment after a report unexpectedly showed a modest increase by U.S. retail sales in the month of August.

Consumer prices from the UK and the euro area are the top economic news due on Wednesday, headlining a light day for the European economic news. At 2.00 am ET, the Office for National Statistics releases UK consumer and producer prices for August. Consumer price inflation is forecast to remain unchanged at 2.2 percent in August.

Business inventories in the U.S. increased by slightly more than expected in the month of July, according to a report released by the Commerce Department on Tuesday. The Commerce Department said business inventories climbed by 0.4 percent in July rising by 0.3 percent in June. Economists had expected business inventories to increase by another 0.3 percent.

A report released by the National Association of Home Builders on Tuesday showed homebuilder confidence in the U.S. improved by slightly more than expected in the month of September. The report said the NAHB/Wells Fargo Housing Market Index rose to 41 in September from 39 in August. Economists had expected the index to inch up to 40.

Industrial production in the U.S. rebounded by much more than anticipated in the month of August, the Federal Reserve revealed in a report released on Tuesday. The Fed said industrial production climbed by 0.8 percent in August after slumping by a revised 0.9 percent in July. Economists had expected industrial production to rise by 0.2 percent.

Retail sales in the U.S. unexpectedly crept higher in the month of August, according to a report released by the Commerce Department on Tuesday. The Commerce Department said retail sales inched up by 0.1 percent in August after surging by an upwardly revised 1.1 percent in July. The uptick surprised economists, who had expected retail sales to dip by 0.2 percent.

German investor confidence declined sharply again in September as hopes of swift improvement in economic situation fade, survey results from the think tank ZEW showed Tuesday. The ZEW Indicator of Economic Sentiment fell to 3.6 from 19.2 in August. The score was the lowest since October 2023 and also well below forecast of 17.2.

The Antipodean currencies such as the Australia and New Zealand dollars strengthened against their major currencies in the European session on Tuesday, as European stocks traded higher as a two-day policy meeting of the U.S. Federal Reserve gets underway later today.

Economic sentiment survey from Germany is the only major report due on Tuesday, headlining a light day for the European economic news. At 5.00 am ET, Germany's ZEW economic confidence survey results are due. The index is forecast to fall to 17.2 in September from 19.2 in the previous month. In the meantime, ECB board member Elizabeth McCaul is set to speak at an event in Frankfurt.

The U.S. dollar drifted lower on Monday, and touched a one-year low against the Japanese currency, amid speculation the Federal Reserve might consider a larger reduction in interest rate in the wake of recent inflation readings and other economic data.

The Federal Reserve Bank of New York released a report on Monday showing regional manufacturing grew for the first time in nearly a year in the month of September. The New York Fed said its general business conditions index surged to a positive 11.5 in September from a negative 4.7 in August, with a positive reading indicating growth. Economists had expected the index to inch up to a negative 3.9

The week ended September 13 witnessed the Dollar slip marginally against major currencies in the backdrop of lower CPI readings from the U.S.

UK house prices increased in September as the traditionally busier Autumn market started early after the Bank of England's interest rate cut lowered mortgage rates and the election results boosted confidence, data published by the property website Rightmove showed Monday. House prices grew 0.8 percent on a monthly basis in September, in contrast to the 1.5 percent decrease in August.

The euro area trade surplus increased notably in July due to the sharp rebound in exports, Eurostat reported Monday. On an unadjusted basis, the trade surplus rose sharply to EUR 21.2 billion in July from EUR 6.7 billion in the same period last year. In June, the surplus was EUR 21.7 billion.

The U.S. dollar weakened against other major currencies in the Asian session on Monday amid growing expectations of interest rate cuts by the Federal Reserve and other central banks.

Foreign trade and labor cost from the euro area and final inflation figures from Italy are the top economic news due on Monday. At 2.30 am ET, producer price data is due from Switzerland. Prices are forecast to edge up 0.1 percent on month in August after remaining flat in July.

The U.S. dollar drifted lower on Friday, extending weakness from the previous session, amid bets the Federal Reserve might announce a larger interest-rate cut nex week, and also deliver a few more reductions in the coming months.

Consumer sentiment in the U.S. has improved by more than anticipated in the month of September, according to preliminary data released by the University of Michigan on Friday. The University of Michigan said its consumer sentiment index rose to 69.0 in September from 67.9 in August, while economists had expected the index to inch up to 68.0.

A report released by the Labor Department on Friday showed import prices in the U.S. decreased by slightly more than expected in the month of August. The Labor Department said import prices fell by 0.3 percent in August after inching up by 0.1 percent n July. Economists had expected import prices to dip by 0.2 percent.

The Bank of Russia lifted its benchmark rate by 100 basis points on Friday as inflationary pressures remained elevated and domestic demand expanded significantly. The board of directors, led by Governor Elvira Nabiullina, raised the key rate to 19.00 percent from 18.00 percent. This was the second consecutive rate hike. The bank was expected to maintain status quo.

Eurozone industrial production declined in July but at a slower-than-expected pace due to the rebound in non-durable consumer goods output, data from Eurostat revealed on Friday. Industrial production fell 0.3 percent on a monthly basis in July after remaining flat in June. Output was forecast to decrease 0.6 percent.

The U.S. dollar weakened against its major counterparts in the Asian session on Friday. In contrast, the Japanese yen strengthened against its peers, as investors are upbeat about the rising prospects of an interest rate cut by the U.S. Fed next week, and probability of a series of interest rate cuts before the end of the year, in the wake of recent data on U.S. inflation.

Industrial production from the euro area and final inflation from France are the top economic news due on Friday. At 2.00 am ET, industrial production data is due from Romania. At 2.45 am ET, France's statistical office INSEE is slated to issue final inflation figures for August.