The greenback rallied across the board, with the exception of the Swiss franc, as global risk-aversion dictated direction in the currency market. The US equity bourses traded lower for the third consecutive session, with the Dow Jones and S&P 500 shedding more than 0.5% while the Nasdaq slumped by 0.83%. Crude oil tumbled further, plummeting by around 2.9% on Thursday beneath the $76-per barrel mark to $75.74.

Weekly jobless claims provided little reprieve from the string of weaker than expected US economic reports. The initial jobless claims reading jumped higher to 484k, missing calls for an improvement from 465k versus an upwardly revised 482k reading in the previous week.

The week closes out with a barrage of data to will provide traders with further insight into the state of the economy. The reports kick off tomorrow at 8:30 AM with the release of the July consumer price index, retail sales and later in the morning, the University of Michigan consumer confidence survey and June business inventories. Headline inflation is expected to edge up by 0.2% in July on a monthly basis from a 0.1% decline from June. The consumer price index on a yearly basis is estimated to increase by 1.2% from 1.1% previously. Meanwhile, the core CPI readings are seen printing at 0.1% m/m and 0.9% y/y. The advanced reading for July retail sales is forecast to reverse the 0.5% decline, advancing by 5% and the excluding automobiles reading is estimated to edge up by 0.3%. Rounding out the reports are the August University of Michigan consumer confidence survey, seen improving to 69.0 from 67.8 and June business inventories are estimated to edge up to 0.2%.

EURUSD continues to trade near its lows, having shed 3.35% against the dollar since the beginning of the week. Support is seen emerging at 1.2820, followed by 1.28 and 1.2750. Subsequent floors are eyed at 1.2730, backed by 1.27 and 1.2660. On the topside, resistance is seen at 1.2850, followed by 1.29 and 1.2940. Additional gains will target 1.2970, backed by 1.30 and 1.3030.