U.S. unit labor costs were much weaker than initially thought in the third quarter amid robust worker productivity, providing a boost to the Federal Reserve's fight against inflation.
Oil prices recouped some of their losses in early Asian trading but remained at the lowest levels since June, after falling in the previous session on high U.S. crude output and gasoline inventories.
The euro languished near a three week low on Thursday as traders intensified bets that the European Central Bank (ECB) will start cutting rates from March next year, while the dollar was steady ahead of a crucial payrolls data later this week.
The downturn in euro zone business activity eased last month but still indicates the bloc's economy will contract again this quarter as the dominant services industry continues to struggle to generate demand, a survey showed.
Nine in 10 British manufacturers still face problems doing business with the European Union and difficulties in hiring skilled workers due to Brexit, according to a survey that showed the lingering impact of Britain's exit from the bloc.
Euro zone producer prices inched higher as expected in October compared with September as a rise in energy prices offset slight declines in a range of goods, while the decline from a year earlier eased.