Economic calendar: PMI data in focus

• Futures point to higher opening of European cash session
• Japanese yen gains after interest rate hike and hawkish BoJ comments
• EURUSD breaks above the 1.0460 barrier on the back of a weak dollar

The start of Friday's session in the financial markets brings investors gains in the Japanese yen, overall weakness in the U.S. dollar and higher stock index-based futures. This comes after the BoJ's hawkish decision and Trump's relatively mild comments regarding the imposition of tariffs on China.

The rest of the day, however, will turn to January PMI data readings from the world's major economies. It is largely their readings that may condition whether the currently visible market trends will be maintained for the rest of the week.

Detailed calendar of the day (GMT):

08:15 France PMI data for January:

• Services. Forecast: 49.3. Previously: 49.3.
• Manufacturing. Forecast: 42.2 Previously: 41.9.

08:30 Germany, PMI data for January:

• Services. Forecast: 51.0 Previously: 51.2.
• Manufacturing. Forecast: 42.7 Previously: 42.5.

09:00 Eurozone, PMI data for January:

• Services. Forecast: 51.5 Previously: 51.6.
• Manufacturing. Forecast: 45.3 Previously: 45.1.

09:30 UK, PMI data for January:

• Services. Forecast: 50.8 Previously: 51.1.
• Manufacturing. Forecast: 47.0. Previously: 47.0.

14:45 United States, PMI data for January:

• Services. Forecast: 56.5. Previously: 56.8.
• Manufacturing. Forecast: 49.7. Previously: 49.4

15:00 United States, UoM data for January:

• Annual CPI forecast: 3.3% Previously: 2.8%
• CPI 5-year forecast: 3.3% Previously: 3