Empire State Manufacturing Index fell to -1.0

Business activity leveled off in New York State, according to firms responding to the May 2017 Empire State Manufacturing Survey. The headline general business conditions index fell six points to -1.0. The new orders index dropped to -4.4, suggesting a small decline in orders, and the shipments index edged down to 10.6, indicating that shipments increased at a slightly slower pace than in April.

USD - Major events in the week ahead

Events that marked the week:

Thursday was marked by PPI and Unemployment Claims figures. The Producer Price Index for final demand advanced 0.5 percent in April, seasonally adjusted,  the U.S. Bureau of Labor Statistics reported. Final demand prices edged down 0.1 percent in March and climbed 0.3 percent in February.  On an unadjusted basis, the final demand index rose 2.5 percent for the 12 months ended April 2017, the largest increase since  moving up 2.8 percent for the 12 months ended February 2012.

Consumer Sentiment climbed to 97.7

Consumer sentiment climbed to 97.7 in mid-May, riding the so-called Trump bump a little longer, The University of Michigan said on Friday. Economists were expecting The University of Michigan's Consumer Sentiment Index to see a smaller preliminary reading of 97, according to Thomson Reuters consensus estimates.

US Retail Sales rose by 0.4%

A pickup in U.S. retail sales last month adds to signs of steady consumer spending that will help propel the economy after a first-quarter slowdown, Commerce Department data showed Friday. Purchases rose 0.4% (forecast was 0.6% rise) after a 0.1% increase the prior month (revised from 0.2% decline).