Spain Harmonized Index of Consumer Prices (MoM) came in at 0.4%, above expectations (0.3%) in February

Spain Consumer Price Index (YoY) came in at 2.3%, above expectations (2.2%) in February

Spain Consumer Price Index (MoM) increased to 0.4% in February from previous -0.4%

Switzerland Gross Domestic Product (YoY) climbed from previous 0.5% to 0.7% in 4Q

Switzerland Gross Domestic Product (QoQ) registered at 0.1%, below expectations (0.2%) in 4Q

Austria Producer Price Index (YoY) increased to -1.4% in January from previous -1.9%

Austria Producer Price Index (MoM) increased to 0.1% in January from previous -0.3%

Spain Harmonized Index of Consumer Prices (YoY) came in at 2.5%, above expectations (2.3%) in February

France Consumer Spending (MoM) registered at 0.5% above expectations (0.3%) in January

France Nonfarm Payrolls (QoQ) below forecasts (0.1%) in 4Q: Actual (-0.1%)

France Gross Domestic Product (QoQ) in line with forecasts (0.2%) in 4Q

Danske Bank’s Danske Research Team notes that EUR/USD is trading close to 1.18 as markets await key Euro area inflation data. The bank expects Euro area HICP inflation to edge up slightly to 1.73% year-on-year, with core inflation steady at 2.2%.

UOB strategists Quek Ser Leang ve Lee Sue Ann note that GBP/USD reversed sharply from 1.3575 to 1.3447, invalidating the earlier bullish bias. Intraday, they expect a consolidation between 1.3455 and 1.3525 as the latest drop looks excessive.

Sweden Gross Domestic Product (YoY) came in at 2.1%, above forecasts (1.8%) in 4Q

Sweden Gross Domestic Product (QoQ) came in at 0.5%, above forecasts (0.2%) in 4Q

Germany Import Price Index (YoY) remains at -2.3% in January

Germany Import Price Index (MoM) came in at 1.1%, above expectations (0.6%) in January

Sweden Trade Balance (MoM) fell from previous 7.4B to 6.3B in January

The EUR/GBP cross holds positive ground near 0.8750 during the early European session on Friday. The Pound Sterling (GBP) softens against the Euro (EUR) amid a combination of UK political uncertainty and expectations of monetary easing by the Bank of England (BoE).

China’s Politburo held its latest meeting on Friday, with the key takeaways noted below.

Japan Housing Starts (YoY) above forecasts (-1.6%) in January: Actual (-0.4%)

Japan Annualized Housing Starts down to 0.755M in January from previous 0.771M

Japan Construction Orders (YoY) down to 5.7% in January from previous 20.2%

The USD/CNH pair recovers some lost ground to near 0.8505 during the early European session on Friday. The Chinese Yuan (CNH) weakens against the US Dollar (USD) as China moves to rein in the currency’s strength by scrapping an extra fee for betting against it in the derivatives market.

Finance Minister Satsuki Katayama said that Japan is monitoring the Japanese Yen’s (JPY) slide “with a strong sense of urgency” and is in close communication with the US, Reuters reported on Friday.

West Texas Intermediate (WTI) Oil price loses ground after registering little gains in the previous session, trading around $65.00 per barrel during the Asian hours on Friday.

Oman's Foreign Minister, Badr al-Busaidi, said that talks between the United States (US) and Iran on nuclear issues have made "significant progress,” Reuters reported on Thursday.

The People's Bank of China (PBOC), China’s central bank, announced on Friday that it will cut the foreign exchange risk reserve ratio from 20% to 0%, starting March 2.

Australia Private Sector Credit (MoM) registered at 0.5%, below expectations (0.7%) in January

The EUR/USD pair trades on a flat note near 1.1800 during the early Asian session on Friday. The pair steadies as softer Eurozone inflation offsets US tariff uncertainties.