- There was a second consecutive blowout UK Manufacturing Production print Friday morning, which saw Sterling rally in FX space. There was a 2.1% rise in Manufacturing Production for December, smashing the expected 0.5%.
- Further bolstering Sterling, there was a narrowing in the UK’s Goods Trade Balance reported. A deficit of 11.5Bn was expected however the actual figure was 10.9Bn.
- Canadian data took centre stage Friday afternoon and it didn’t disappoint with 48,300 (-10,100 Exp) more people in employment in January and the official unemployment rate dropping to 6.8% from a previous 6.9%.
- There were also two US economic data releases of note Friday afternoon:
- Import Prices m/m 0.4% as expected
- Prelim UoM Consumer Sentiment 95.7 (97.9 Exp)
- Speaking Friday afternoon ECB member Nowotny said the central bank would look to discuss options regarding their QE program towards the middle of 2017; adding at present there is no reason to deviate from the current plan.
- Japan Prelim GDP q/q 0.2% (0.3% Exp)
- Speaking overnight, US Fed Vice Chair Stanley Fischer acknowledged that there is significant uncertainty about US Fiscal Policy under Trump’s administration; however he said the Fed would continue to operate according to the law, maintaining full employment and hitting 2% inflation.
- Speaking on German radio EU President Juncker said the Greek plan is ‘on shaky ground’.
- No data releases of any note due today so could be a quiet day in progress.