Societe Generale in its early Friday economic news summary pointed out:
Brent down 2% at US$88.5/barrel after President Trump cancels planned strikes on Iran, signals potential deal as soon as the weekend. Iran pushes back, says no final agreement yet and cites new United States demands and shifting positions. South Korea's Kospi (+8.0%) leads Asia risk rally. 10-year U.S. Treasury yield steady at 4.46% after falling 9bps on Thursday.
The United Kingdom's April gross domestic product contracts 0.1% month over month, grows 0.7% three-month/over/three-month in line. Services down 0.2% month over month, manufacturing grows 0.4%, construction 0.1%. April trade deficit narrows less than expected to 8.43 billion pounds from 9.65 billion pounds, exports +1.1%, imports -0.4%.
Day ahead: European Central Bank speakers Kocher, Nagel, Rehn. Preliminary University of Michigan sentiment. The consumer price index for Brazil and India.
Nikkei +3.8%, EUR 10-year IRS -6bps at 3.02%, Gold down 0.7% at US$4,180/oz.