United States New Home Sales (MoM) up to 0.758M in November from previous 0.737M

United States New Home Sales (MoM) above expectations (0.73M) in December: Actual (0.745M)

United States Michigan Consumer Expectations Index in line with expectations (56.6) in February

United States UoM 1-year Consumer Inflation Expectations registered at 3.4%, below expectations (3.5%) in February

United States UoM 5-year Consumer Inflation Expectation came in at 3.3%, below expectations (3.4%) in February

United States Michigan Consumer Sentiment Index came in at 56.6, below expectations (57.3) in February

National Bank of Canada’s Ethan Currie notes that Canada’s apparent export diversification away from the United States in 2025 was heavily driven by Gold shipments, masking weaker underlying trade gains.

The Euro (EUR) trades little changed against the US Dollar (USD) on Friday as investors digest the latest batch of US economic data. At the time of writing, EUR/USD hovers near 1.1763, recovering modestly from an intraday low of 1.1743, but remains on track for a weekly loss.

United States S&P Global Manufacturing PMI below expectations (52.6) in February: Actual (51.2)

United States S&P Global Composite PMI fell from previous 53 to 52.3 in February

United States S&P Global Services PMI came in at 52.3 below forecasts (53) in February

Commerzbank’s Dr. Vincent Stamer notes that the Euro area composite PMI rose to 51.9 in February, recovering about half of its recent decline and remaining in a range historically consistent with moderate growth. Sentiment improved particularly in manufacturing, while services edged higher.

According to the US Department of Commerce, headline Personal Consumption Expenditures (PCE) inflation came in at 2.9% YoY in December. Core PCE, which strips out food and energy costs, ran a touch firmer at 3.0% YoY, suggesting underlying price pressures are still proving a bit sticky.

AUD/USD trades around 0.7050 on Friday at the time of writing, down 0.13% on the day, following the release of significantly weaker-than-expected US Gross Domestic Product (GDP) data.

Nordea’s Torbjörn Isaksson notes that Swedish January CPIF and CPIF ex energy were confirmed at 2.0% and 1.7% respectively, with services inflation the main downside surprise. He describes the details as dovish and expects to lower the inflation path.

TD Securities analysts note a sharp 1.8% monthly jump in UK Retail Sales and stronger-than-expected PMIs, with gains driven by broad-based demand and higher export orders.

GBP/JPY advances on Friday, as stronger-than-expected UK economic data boosts the British Pound (GBP), while softer inflation figures from Japan weigh on the Japanese Yen (JPY). At the time of writing, the cross is hovering around 209.23, remaining confined within a little over one-week range.

United States Core Personal Consumption Expenditures (QoQ) registered at 2.7% above expectations (2.6%) in 4Q

United States Gross Domestic Product Price Index remains unchanged at 3.7% in 4Q

United States Personal Consumption Expenditures Prices (QoQ) came in at 2.9%, above forecasts (2.8%) in 4Q

United States Gross Domestic Product Annualized came in at 1.4%, below expectations (3%) in 4Q

United States Personal Consumption Expenditures - Price Index (MoM) above forecasts (0.3%) in December: Actual (0.4%)

United States Personal Consumption Expenditures - Price Index (YoY) above forecasts (2.8%) in December: Actual (2.9%)

United States Personal Spending in line with forecasts (0.4%) in December

United States Core Personal Consumption Expenditures - Price Index (MoM) came in at 0.4%, above forecasts (0.3%) in December

United States Personal Income (MoM) meets expectations (0.3%) in December

OCBC’s Christopher Wong highlights that strong January labour data keep Reserve Bank of Australia hike risks alive, lending support to the Australian Dollar despite geopolitical headwinds.