A quiet spell lasted uninterrupted through the Asia-Pacific session. Amid little fresh signals, focus remained on yesterday's package of monetary stimuli deployed by the ECB, as well as gradual de-escalation in U.S.-China trade spat.

Elsewhere,U.S. President Trump noted that a tax cut for middle-income Americans will be announced sometime in the next year & mentioned that he wants a full trade deal with China, but would consider an interim accord.

JPY softened a touch as aforesaid trade & ECB developments supported regional equity markets. CAD and NOK slightly faded in sync with crude oil. AUD garnered some strength, but its Antipodean cousin failed to follow suit. Worth highlighting that price action was very tight in the G10 FX space.

Holiday market closures in China, Taiwan and South Korea played a role in limiting activity. USD/CNH slid breaking under yesterday's low eventually

Economic Data:

Europe's main data events on Friday are the release of Spanish inflation figures at 0800 BST which is followed by the publication of the EZ's trade balance at 1000 BST. In the US the release of retail sales data at 1330 BST will be closely watched.