There were no data releases from the UK on Friday, with markets still being influenced by BoE stanzas as well as commodity prices.The dollar had come under pressure after New York Federal Reserve President William Dudley said on Wednesday that the weakening outlook for the global economy and any further strengthening of the dollar could have "significant consequences" for the health of the U.S. economy. The fall in oil prices has been a "net good" for the economy, Bank of England deputy governor Ben Broadbent has said. He told BBC Radio 5live's Wake Up To Money that falling oil prices had helped to push up wages in real terms. Speaking about the longer-term decline in prices, Mr Broadbent said: "I think it's a net good."
In the US session NFP and Trade Balance figures were released. Job growth settled into a more sustainable pace in January and the
unemployment rate dropped to an almost eight-year low of 4.9 percent, signs of a resilient labor market that’s causing wage growth to stir.The 151,000 advance in payrolls, while less than forecast, largely reflected payback for a seasonal hiring pickup in the final two months of 2015, Labor Department figures showed Friday.
The U.S. Census Bureau announced today that the goods and services deficit was $43.4 billion in December, up $1.1 billion from $42.2 billion in November, revised. December exports were $181.5 billion, $0.5 billion less than November exports. December imports were $224.9 billion, up $0.6 billion from November. The December increase in the goods and services deficit reflected an increase in the goods deficit of $1.3 billion to $62.5 billion and an increase in the services surplus of $0.1 billion to $19.2 billion.
There will be no major data releases both from the UK and USA on Monday, so we can expect a bit steadier session so we can expect a less volatile beginning of the week.
