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The European Central Bank left its key interest rates and massive stimulus unchanged for an eleventh straight month on Thursday and also left the forward guidance intact, thus retaining the downward bias on asset purchases.

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Consumer prices in Australia gained 0.2 percent on quarter in the second quarter of 2017, the Australian Bureau of Statistics said on Wednesday.

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Activity in the U.S. manufacturing sector saw continued growth in the month of July, according to a report released by the Institute for Supply Management on Tuesday, although the pace growth slowed.

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A report released by the Labor Department on Friday showed a modest uptick in consumer prices in the U.S. in the month of July. The Labor Department said its consumer price index inched up by 0.1 percent in July after coming in unchanged in June.

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The International Monetary Fund raised the growth outlook for China for the period between 2017 to 2021, but cautioned that the projected sharp increase in non-financial sector debt could hurt growth.

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The UK economy expanded moderately as estimated in the second quarter as household spending grew at the weakest pace in nearly three years amid rising prices. Gross domestic product increased 0.3 percent sequentially in the second quarter, unrevised from the preliminary estimate, the latest data from the Office for National Statistics showed Thursday.

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Partly reflecting a steep drop in spending on public construction, the Commerce Department released a report on Friday showing an unexpected decrease in U.S. construction spending in the month of July. The report said construction spending fell by 0.6 percent.

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Australia had a seasonally adjusted merchandise trade surplus of A$460 million in July, the Australian Bureau of Statistics said on Thursday.

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OPEC is potentially extending production cuts, in an attempt to stabilize oil prices. Hurricane Harvey caused a stockpile of crude, and a lack of supply of natural gas. Traders are looking to see whether OPEC will be extending production cuts and how Harvey will affect the oil market fundamentally.

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The time has not yet come for the European Central Bank to start gradually winding down its massive monetary stimulus and the bank is being very careful with communicating its stance about the strong euro, ECB Chief Economist and Executive Board member Peter Praet said in an interview to the Belgian newspaper De Tijd, published on Saturday.

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