Market Roundup
• HCOB France Manufacturing PMI (Jan): 51.0, 50.4 forecast, 50.7 previous.
•HCOB France Services PMI (Jan): 47.9, 50.3 forecast, 50.1 previous.
•HCOB France Composite PMI (Jan): 48.6, 50.1 forecast, 50.0 previous.
•HCOB Germany Manufacturing PMI (Jan): 48.7, 47.8 forecast, 47.0 previous.
•HCOB Germany Services PMI (Jan): 53.3, 52.6 forecast, 52.7 previous.
•HCOB Germany Composite PMI (Jan): 52.5, 51.8 forecast, 51.3 previous.
•HCOB Eurozone Composite PMI (Jan): 51.5, 51.6 forecast, 51.5 previous.
•HCOB Eurozone Manufacturing PMI (Jan): 49.4, 49.1 forecast, 48.8 previous.
•HCOB Eurozone Services PMI (Jan): 51.9, 52.6 forecast, 52.4 previous.
•S&P Global UK Composite PMI (Jan): 53.9, 51.7 forecast, 51.4 previous.
•S&P Global UK Services PMI (Jan): 54.3, 51.7 forecast, 51.4 previous.
•S&P Global UK Manufacturing PMI (Jan): 51.6, 50.6 forecast, 50.6 previous.
•Canada Core Retail Sales (MoM) (Nov): 1.7%, 1.0% forecast, -0.6% previous.
•Canada Retail Sales (MoM) (Nov): 1.3%, 1.2% forecast, -0.3% previous.
•Canada Retail Sales (MoM) (Nov): -0.5%, 1.3% previous.
Looking Ahead Economic Data (GMT)
•14:30 US S&P Global Manufacturing PMI (Jan): 51.9 forecast, 51.8 previous.
•14:30 US S&P Global Composite PMI (Jan): 52.7 previous.
•15:00 US Michigan 1-Year Inflation Expectations (Jan): 4.2% forecast, 4.2% previous.
•15:00 US Michigan Consumer Expectations (Jan): 55.0 forecast, 54.6 previous.
•15:00 US Michigan Consumer Sentiment (Jan): 54.0 forecast, 52.9 previous.
•15:00 US Michigan 5-Year Inflation Expectations (Jan): 3.4% forecast, 3.2% previous.
•15:00 US Michigan Current Conditions (Jan): 52.4 forecast, 50.4 previous.
•15:00 US Leading Index (MoM) (Nov): -0.2% forecast, -0.3% previous.
•15:30 US Dallas Fed PCE (Nov): 1.90% previous.
•18:00 U.S. Baker Hughes Oil Rig Count: 410 previous.
•18:00 U.S. Baker Hughes Total Rig Count: 543 previous.
Looking Ahead Events And Other Releases (GMT)
•No Events Ahead
Currency Forecast
EUR/USD : The euro edged lower against dollar on Friday as solid US economic data lift the greenback.Data from the Commerce Department's Bureau of Economic Analysis showed the U.S. economy grew a bit faster than initially thought in the third quarter, and corporate profits were also revised higher.The upwardly revised 4.4% annualized growth rate in U.S. GDP was the fastest pace since the third quarter of 2023, while U.S. consumer spending increased solidly in November and October.The number of Americans filing new applications for unemployment benefits increased marginally last week, suggesting the labor market likely maintained a steady pace of job growth in January. Immediate resistance can be seen at 1.1804(23.6%fib), an upside break can trigger rise towards 1.1836(Higher BB).On the downside, immediate support is seen at 1.1742 (38.2%fib), a break below could take the pair towards 1.1686(50%fib).
GBP/USD: Sterling rose on Friday after stronger-than-expected UK retail sales and business activity figures ended a week of mixed economic data. Sales volumes rose by 0.4% in December from November, the Office for National Statistics said. This was the first increase since September and marked a brighter end to an otherwise drab final quarter for shops. The preliminary S&P Global UK Composite Purchasing Managers' Index for January hit its highest level since April 2024, jumping to 53.9 from 51.4 in December, Friday’s data, alongside reports earlier in the week that showed the labour market weakened and inflation accelerated, has put the outlook for interest rate decisions by the Bank of England back into focus. The BOE is expected to hold rates steady when it next meets in February. Markets fully price in a quarter-point rate cut by June. Immediate resistance can be seen at 1.3562(23.6%fib), an upside break can trigger rise towards 1.3583(Higher BB).On the downside, immediate support is seen at 1.3464(38.2%fib), a break below could take the pair towards 1.3386(50%fib).
AUD/USD: The Australian firmed on Friday as robust Australian PMI figures signaled a strong acceleration in private-sector activity.. Australia’s private-sector activity accelerated sharply at the start of 2026, with the latest flash PMI data pointing to broad-based momentum across both manufacturing and services. The headline S&P Global Flash Australia Composite PMI rose to 55.5 in January from 51.0 in December, marking a sixteenth consecutive month of expansion and the strongest reading since April 2022, matched only by August 2025.The improvement reflected faster growth in both major sectors. Manufacturing PMI edged higher to 52.4 from 51.6, while the Services PMI jumped to 56.0 from 51.1, highlighting a strong rebound in activity following a softer end to last year. Immediate resistance can be seen at 0.6840(23.6%fib), an upside break can trigger rise towards 0.6900(Psychological level).On the downside, immediate support is seen at 0.6760(38.2%fib), a break below could take the pair towards 0.6718(SMA 20)
USD/JPY: The U.S. dollar strengthened on Friday as the yen weakened after the Bank of Japan left interest rates unchanged, as expected. The BOJ also raised its economic and inflation forecasts, signaling confidence that a gradual recovery could support further rate hikes. Investors are now focused on Governor Kazuo Ueda’s post-meeting remarks for clues on the timing of the next move, with the outlook complicated by renewed market volatility following Prime Minister Sanae Takaichi’s call for a snap election next month. The central bank faces the challenge of maintaining a hawkish tone to support the yen without pushing bond yields higher amid expectations of increased government spending. The BOJ kept its policy rate at 0.75% at the end of its two-day meeting, after raising it from 0.5% in December. Immediate resistance can be seen at 159.49(23.6%fib) an upside break can trigger rise towards 160.00(Psychological level) .On the downside, immediate support is seen at 157.43(SMA 20) a break below could take the pair towards 156.97 (38.2%fib).
Equities Recap
European shares dipped on Friday and were poised to snap their longest weekly winning streak since May, as investors weighed the potential market fallout from renewed trade tensions linked to Greenland.
UK's benchmark FTSE 100 was last trading up at 0.06 percent, Germany's Dax was down by 0.13 percent, France’s CAC was last down by 0.31 percent.
Commodities Recap
Oil prices climbed on Friday after U.S. President Donald Trump renewed threats toward Iran, stoking fears of potential military action that could disrupt crude supplies, while ongoing outages in Kazakhstan added to supply concerns.
Brent crude futures for March rose $1.68, or 2.6%, to $65.74 a barrel by 1408 GMT. U.S. West Texas Intermediate crude was up $1.63, or 2.8%, at $60.99.
Gold prices stabilized on Friday after jumping to a record high just under $5,000 an ounce, while silver hovered near the $100 mark, supported by strong buying momentum and solid fundamentals.
Spot gold was steady at $4,931.28 an ounce at 1332 GMT, having touched a record $4,967.03 earlier in the day. U.S. gold futures for February delivery added 0.4% to $4,934.20.
