Russia Consumer Price Index (MoM) below expectations (2%) in January: Actual (1.6%)

Russia Consumer Price Index (MoM) below forecasts (2%) in January: Actual (1.62%)

The GBP/USD holds firm at around 1.3620 as the latest inflation report in the United States, prompted traders to re-price in the likelihood of an interest rate reduction by the Federal Reserve at the June meeting. The pair trades flat yet poised to end the week with a minimal gain of 0.12%.

EUR/CHF extends its decline on Friday, as Swiss inflation data supports the Swiss Franc (CHF). At the time of writing, the pair is trading around 0.9120, hovering near the all-time low of 0.9095.

Bank of England (BoE) Chief Economist Huw Pill said on Friday he does not see a collapse in activity, citing forward-looking indicators at an event hosted by Santander, a bank, in London.

National Bank Of Canada’s Ethan Currie and Taylor Schleich stress that the U.S. fiscal trajectory remains unsustainable despite additional tariff revenues.

Rabobank’s Philip Marey argues that Kevin Warsh’s nomination as Fed Chair points to lower US policy rates in 2026, with three 25 bps cuts expected, slightly below the current neutral rate estimate.

ING economists Rafal Benecki and Adam Antoniak note that Poland’s January CPI surprised on the upside due to technical factors and volatile components, but headline inflation remains below the National Bank of Poland target.

Commerzbank’s Thu Lan Nguyen highlights that German gas storage is only about 25% full, far below past norms, but an outright shortage this winter is still seen as unlikely thanks to flexible LNG imports.

The Euro (EUR) regains some ground against the US Dollar (USD) on Friday, with EUR/USD clawing back part of its earlier losses as soft US Consumer Price Index (CPI) data pressures the Greenback.

TD Securities strategists Ryan McKay and Daniel Ghali outline how rising Middle East tensions and Iran-focused scenarios could reshape Oil markets.

Ripple (XRP) edges up above the intraday low of $1.35 at the time of writing on Friday amid mixed price actions across the crypto market. The remittance token failed to hold support at $1.40 the previous day, reflecting risk-off sentiment amid a decline in retail and institutional sentiment. 

Rabobank’s Bas van Geffen discusses how EU leaders are increasingly considering a multispeed European Union to address structural reforms and competitiveness.

Bitcoin (BTC) holds above support at $65,118 at the time of writing on Friday. The Crypto King shows subtle signs of recovery after extending declines for four consecutive days through Thursday, reflecting a sticky rise-off sentiment in the broader crypto market.

United States Consumer Price Index Core s.a rose from previous 331.86 to 332.79 in January

EUR/GBP rebounds from earlier daily lows on Friday, with the Euro (EUR) drawing modest support from preliminary Eurozone Gross Domestic Product (GDP) data that showed the economy growing in line with expectations in the fourth quarter of 2025.

United States Consumer Price Index ex Food & Energy (YoY) in line with forecasts (2.5%) in January

United States Consumer Price Index (MoM) registered at 0.2%, below expectations (0.3%) in January

United States Consumer Price Index n.s.a (MoM) registered at 325.25, below expectations (325.41) in January

United States Consumer Price Index ex Food & Energy (MoM) meets forecasts (0.3%) in January

United States Consumer Price Index (YoY) below expectations (2.5%) in January: Actual (2.4%)

Danske Research Team highlights Norway’s Q1 oil investment survey, which points to higher-than-expected nominal spending in 2026 and 2027. After adjusting for cost inflation, investment volumes appear stronger than Norges Bank’s December projections.

ING’s Romania team highlights that weaker-than-expected GDP and a sharp 4Q25 contraction introduce downside risks to inflation and could prompt the National Bank of Romania to front-load its easing cycle.

Commerzbank’s Tatha Ghose expects EUR/HUF to trade broadly sideways around 375 in coming months as the Euro appreciates, before the pair gradually rises toward 400 by end-2026, implying a weaker Forint.

Commerzbank’s Commodity Research team highlights a sharp setback in Gold and Silver, with Gold briefly dropping to USD 4,900 per ounce before stabilizing near USD 5,000.

TD Securities’ Global Strategy Team reviews the RBNZ Survey of Expectations, noting that 2-year ahead inflation expectations rose to 2.37%, with 5-year and 10-year measures also ticking higher.

Silver (XAG/USD) shows minor gains on Friday, trading at $77.35 at the time of writing after bouncing from lows near $74.00 on Thursday. The white metal, however, remains on track for its third consecutive weekly decline, with bulls lacking follow-through above the $79.00 area.