A 6.5-percent monthly decline in gas station receipts accounts for much of the drop in December retail sales.
The dollar fell against the yen following after newly released data showed retail sales fell 0.9 percent, its biggest drop since January 2014.
CNBC's Seema Mody reports there's lots of speculation about the ECB ahead of next week's big meeting.
What seems to be happening is that the market is starting to price in more risk, and a potential earnings slowdown.
CNBC's Simon Hobbs reports on all the market moving events in Europe today, including a comeback for Greece and a pending ECB bond judgment.
10-year bond yields are at 18-month lows, gold touched a 12-week high, and oil plumbed a nearly 6-year low.
Sterling fell towards an 18-month low against the dollar, after data showed British inflation at its lowest since 2000.
Multinational businesses that do business overseas could feel a "drag" from the stronger dollar, says Ken Kamen, president of Mercadien Asset Management, but growing demand globally as oil prices drop could offset this later on.
The yen hit a one-month high against the dollar on Tuesday, buoyed by steady demand for safe-haven assets against a backdrop of plunging oil prices.
Carl Weinberg, chief economist at High Frequency Economics, says the U.K.'s current account deficit and the downward move in the pound could be the beginning of a move in the currency of "dramatic proportions".
Beat Siegenthaler, FX strategist at UBS, says markets are skeptical but should trust that the European Central Bank will launch quantitative easing and this will weaken the euro further.
Oil and natural gas are sliding to multi-year lows, impacting corporate earnings.
CNBC's Simon Hobbs reports on all the market moving events in Europe today, including a dip for the oil majors and a rebound for Greek stocks.
Tiffany reported flat holiday sales for 2014, bucking the trend of decent revenue numbers from other retailers.
Ian Bremmer, Eurasia Group president, provides insight on political instability in Greece and explains why he is more worried about the Brits.
Kit Juckes, global head of foreign exchange strategy at Societe Generale, says the long dollar trade will continue to "go further", with a U.S. interest rate rise likely to give the greenback 5 percent upside.
The U.S. dollar's spike may hit trade and manufacturing as its strength is disruptive to U.S. exports and companies with big overseas sales.
What is Sen. Bob Corker thinking — his first Republican message is: Raise the federal gasoline tax?
Sterling recovered some ground on Friday, pushing back above $1.51 as the dollar retreated broadly.
Powerful rally, but headwinds may impact earnings.