2016.09.1514:14:00UTC+00Dollar Little Changed After Data Deluge

The dollar is turning in a mixed performance against its major rivals Thursday afternoon, but is little changed overall. Investors were hit with a barrage of U.S. economic reports today, the results of which were mixed. However, disappointing reads on retail sales, industrial production and producer prices have raised doubts about the Federal Reserve's ability to hike interest rates at its meeting next week.

First-time claims for U.S. unemployment benefits rose by less than expected in the week ended September 10th, according to a report released by the Labor Department on Thursday. The report said initial jobless claims inched up to 260,000, an increase of 1,000 from the previous week's unrevised level of 259,000. Economists had expected jobless claims to rise to 265,000.

Wholesale prices in the U.S. held steady in the month of August, according to a report released by the Labor Department on Thursday. The Labor Department said its producer price index for final demand was unchanged in August after falling by 0.4 percent in July. Economists had expected prices to inch up by 0.1 percent.

Retail sales in the U.S. fell by more than expected in the month of August, the Commerce Department revealed in a report released on Thursday. The Commerce Department said retail sales dipped by 0.3 percent in August following a revised 0.1 percent uptick in July. Retail sales had been expected to slip by 0.1 percent.

Reflecting pullbacks in manufacturing and utilities output, the Federal Reserve released a report on Thursday showing that U.S. industrial production fell by more than expected in the month of August. The Fed said industrial production dropped by 0.4 percent in August after climbing by a revised 0.6 percent in July.

Economists had expected production to dip by 0.2 percent compared to the 0.7 percent increase that had been reported for the previous month.

Manufacturing activity in the mid-Atlantic region showed a notable improvement in growth in September, according to new survey results released Thursday. The Philadelphia Federal Reserve said its index of general business conditions came in at 12.8 for September. This was up notably compared a mark of 2.0 for the previous month.

Economists had expected the figure to remain close to August's result, with the consensus estimate sitting at 2.0.

Manufacturing activity in New York State continued to contract in September, though the rate of deterioration eased slightly compared to August. This according to new survey results released Thursday.

The New York Federal Reserve's Empire State Index came in at negative 1.99 for September. This compared to a mark of negative 4.21 in the previous month. Economists had projected a reading of negative 1.00.

With a drop in retail inventories offsetting an uptick in manufacturing inventories, the Commerce Department released a report on Thursday showing that total U.S. business inventories came in flat in the month of July.

The report said business inventories were virtually unchanged in July after rising by 0.2 percent in June. Inventories had been expected to inch up by 0.1 percent.

The dollar rose to an early high of $1.1218 against the Euro Thursday, but has since pulled back to around $1.1245.

Eurozone inflation remained unchanged in August as estimated earlier, latest data from Eurostat showed Thursday. The harmonized index of consumer prices rose 0.2 percent year-on-year, same as in July. Prices increased for a third straight month. In June, inflation was 0.1 percent.

The euro area trade surplus decreased unexpectedly in July, as exports fell and imports rose, figures from Eurostat showed Thursday. The seasonally adjusted trade surplus shrank to EUR 20.0 billion in July from EUR 23.8 billion in June. Meanwhile, economists had expected the surplus to grow to EUR 29.6 billion.

Bank of England policymakers voted unanimously to keep its key interest rate and asset purchases unchanged on Thursday, while signaling that the rate could be cut further to its lower bound of just above zero, as recent data suggested that the economic shock caused by "Brexit" may be less severe than expected earlier.

The Monetary Policy Committee retained its key bank rate at a record low 0.25 percent, the government bond purchases at GBP 435 billion, and corporate bond purchases at GBP 10 billion, all three in a 9-0 vote in the policy meeting ended September 14. The decision was in line with economists' expectations.

The buck climbed to a high of $1.3179 against the pound sterling Thursday, but has since retreated to around $1.3220.

British retail sales decreased at a slower-than-expected pace in August, after rebounding in the previous month, data from the Office for National Statistics showed Thursday. Retail sales volume including automotive fuel dropped 0.2 percent month-over-month in August, reversing a 1.9 percent climb in July. Sales were expected to fall by 0.4 percent.

The greenback set an early high of Y102.739 against the Japanese Yen Thursday, but has since eased back to around Y102.070.