The dollar is gaining ground against its major rivals Friday afternoon. Traders are looking ahead to the G20 summit this weekend and the highly anticipated meeting between President Trump and Chinese President Xi Jinping.
The two leaders will hold a meeting at the summit to discuss the trade dispute between the two nations. Trump and Xi are due to hold a dinner meeting on Saturday on the sidelines of the G20 summit in Buenos Aires, Argentina.
Meanwhile, after reporting a slowdown in the pace of growth in Chicago-area business activity over the three previous months, MNI Indicators released a report on Friday showing business activity unexpectedly recorded its most impressive performance so far this year in November.
MNI Indicators said its Chicago business barometer spiked to 66.4 in November after falling to 58.4 in October, with a reading above 50 indicating growth in business activity. Economists had expected the index to edge down to 58.0.
The dollar has climbed to around $1.1310 against the Euro Friday afternoon, from an early low of $1.14.
Eurozone's consumer price growth slowed to its lowest level in three months in November and the core inflation unexpectedly eased, preliminary figures from the Eurostat showed on Friday. The consumer price index rose 2 percent year-on-year following a 2.2 percent increase in October. The slowing was in line with economists' expectations.
Eurozone's unemployment rate remained unchanged at its lowest level in nearly 10 years for a third straight month in October, preliminary figures from the Eurostat showed on Friday. The seasonally adjusted jobless rate was 3.1 percent in October, where it has been since July. Economists had expected the figure to ease slightly to 8 percent.
German retail sales rebounded strongly in October, growing at the fastest pace in nearly one-and-a-half years, as a strong labor market and earnings growth supports spending despite a weaker economy. Retail sales grew 5 year-on-year following a revised 2.8 percent slump in September, preliminary data from the Federal Statistical Office showed on Friday. Economists had expected a gain of 1.4 percent.
Germany's import price growth unexpectedly accelerated in October after slowing in the previous month, figures from the Federal Statistical Office showed on Friday.
The import price index rose 4.8 percent year-on-year following a 4.4 percent in September. Economists had expected the figure to ease further to 4.2 percent.
Export prices rose 2 percent year-on-year after a 1.9 percent increase in the previous month.
France's consumer price inflation slowed more-than-expected in November to its lowest level in seven months, preliminary data from the statistical office INSEE showed on Friday. The consumer price index rose 1.9 percent year-on-year following a 2.2 percent increase in October. Economists had expected 2 percent inflation.
The buck slid to an early low of $1.2809 against the pound sterling Friday, but has since rebounded to around $1.2745.
UK house price inflation accelerated more-than-expected in November, after slowing in the previous month to its lowest level in over five year, but the outlook remains subdued due to the Brexit-linked uncertainty and a squeeze on household budgets.
The house price index rose 1.9 percent year-on-year following a 1.6 percent increase in October, data from the Nationwide Building Society showed on Friday.
In August and September, price growth was 2 percent. Economists had expected house price growth of 1.7 percent for November.
The greenback has risen to around Y113.615 against the Japanese Yen this afternoon, from an early low of Y113.342.
The unemployment rate in Japan came in at a seasonally adjusted 2.4 percent in October, the Ministry of Internal Affairs and Communications said on Friday. That exceeded expectations for 2.3 percent, which would have been unchanged from the September reading.
Industrial production in Japan was up a seasonally adjusted 2.9 percent on month in October, the Ministry of Economy, Trade and Industry said in Friday's preliminary reading. That exceeded forecasts for an increase of 1.1 percent following the 0.4 percent decline in September.
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