Amazon and Alphabet are the two biggies US equity plays set set to report, with a mountain of names reporting in Europe too – this at a time when EU equities are humming along rather nicely.

On the data side, the highlight will be US nonfarm payrolls on Friday, with current expectations suggesting that we see 150k payrolls with the U / E rate eyed unchanged at 4.1%. We also get the US ISM services and manufacturing reports, as well as the JOLTS job openings getting some focus. We hear from a bunch of Fed speakers, but with the Fed in a wait and see mode it’s the data that is of most interest.

Canada also report jobs numbers, which could move the CAD at touch at a time when the currency may be responding to tariffs/tariff relief.

The BoE meets on Thursday and will cut rates by 25bp to 4.5%. in Europe we get CPI data that could move the EUR given everyone is trying to price a terminal rate for where the ECB could cut too.

In Australia we get retail sales, but that won’t derail the prospect of a cut in Feb, which is now priced close to 90% implied…The Mexican CB meet on Thursday and should cut rates by 50bp to 9.5%.

Elsewhere this weekend its all a huge weekend of sport – Arsenal vs Man City in London….a must win for the Gooners, given L’Pool are 6p clear and are a shoe-in at Bournemouth….It’s the start of the 6 nations rugby and naturally we all want Wales to beat France and England to run it hot in Dublin..I have little faith either will happen though. Plus, if that wasnt enough, England vs India in Twenty20… India are rightfully favs but you know know, you just never know….

As always, stay safe and if it feels wrong, it probably is wrong….

Chris Weston, Pepperstone