Russian shoppers caught in a currency crunch are staying away from the Dubai Shopping Festival (DSF) this year, but visitors from elsewhere look set to make up the numbers at the annual retail bonanza.
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The Federal Reserve could be key for Wall Street next week as investors get to hear from the U.S. central bank for the first time since a series of moves by its global peers, including the European Central Bank's massive stimulus plan.
Shares rose on Tuesday and the dollar gained 1 percent against the yen after China said its economy had not slowed as much as many in markets had feared.
U.S. consumer prices recorded their biggest drop in six years in December and a gauge of underlying inflation was flat, which could make the Federal Reserve more cautious about raising interest rates.
U.S. producer prices in December recorded their biggest fall in more than three years on tumbling energy costs while underlying inflation pressures were tame, a cautionary note for the Federal Reserve as it ponders its next step on monetary policy.
Asian stocks mostly edged up on Thursday after a significant rebound in oil and copper prices brought a semblance of calm, while the dollar regained ground lost on disappointing U.S. retail sales.
U.S. job growth increased briskly in December, but wages posted their biggest decline in at least eight years in a sign the tightening labor market has yet to give much of a boost to workers.
The central bank is burning through its foreign reserves and many government services are being cut as Libya reels under the effects of a collapse in oil revenues caused by factional fighting that threatens to tear the country apart.
Revelers ringing in of the new year this week need to watch out for the next day's hangover. And investors may experience a similar feeling early in 2015 after a two-year run that has propelled U.S. stocks up by nearly 50 percent.
The dollar was on track to end 2014 with a gain of 12 percent against a basket of major currencies, and anticipated U.S. interest rake hikes may strengthen its appeal in the new year.
The Russian rouble staged an uncertain recovery on Tuesday as traders saw modest foreign-currency sales on the final day of trading before the New Year holidays.
The dollar edged up against the yen on Friday in light bargain-hunting following two sessions of losses, with some markets slowly getting into gear after the Christmas holiday.
Russia's rouble strengthened on Thursday as exporters sold foreign currency in response to government pressure and to meet tax payments, but trading volumes were thin as many Western markets were closed for the Christmas Day holidays.
World share markets extended their 'Santa rally' into a fourth day on Monday, as a recovery in beaten-down oil prices and the ruble and more calls for quantitative easing from the ECB helped lift sentiment.
China's trade minister proposed more use of China's currency in settling trade with Russia in the face of a falling rouble to ensure safe and reliable trade, Hong Kong broadcaster Phoenix TV reported on Saturday.
