The U.S. current account deficit narrowed sharply in the second quarter amid a surge in goods exports, data showed on Thursday.
The number of Americans filing new claims for unemployment benefits increased moderately last week, indicating the labor market remains tight despite the Federal Reserve's attempt to cool demand with aggressive interest rate increases.
The Federal Reserve delivered its third consecutive 0.75% rate increase on Wednesday and showed no sign of easing its push into restrictive territory as it battles to cool the embers of inflation.
The U.S. dollar soared in early European trading Thursday, posting a new 24-year high against the yen after the Federal Reserve’s hawkish interest-rate projections contrasted with the Bank of Japan’s dovish stance.
Oil rose on Thursday after sliding 1% in the previous session on the prospect of higher Chinese demand and geopolitical risks.
Asian stock markets fell sharply on Thursday after the U.S. Federal Reserve hiked interest rates and vowed to tighten monetary policy aggressively to curb rampant inflation.