China's consumer price index (CPI) declined 0.3% year on year in January, compared with a 0.2% increase in December last year. While on a monthly basis the inflation edged up 1%. On the other hand, the consumer price index rose 1.0% year-on-year after a 0.3% fall in December. Moving ahead to the North American session, the US will release the latest consumer inflation figures at 13.30 GMT.
“I think bitcoin is really on the verge of getting broad acceptance by sort of the conventional finance people.” Tesla CEO, Elon Musk.
The U.S. has been administering vaccine shots at a faster daily rate than any country in the world. The mass vaccination helps the new coronavirus case counts are steadily dropping across the United States. On Friday, the WHO said that the number of people in the world who have been vaccinated against the coronavirus so far has surpassed the number of people being infected by the virus.
The US dollar outperformed all major currencies this week and climbed to a fresh year high ahead of NFP report, due later during the early North American session. The consensus is for an increase of 50k non-farm payroll jobs, and for the unemployment rate is expected to remain unchanged at 6.7%.
Today, all eyes will be on the BOE interest rate decision. The market participants expect the central bank to keep its interest rate unchanged near zero.