Risk aversion prevails today, after Thurday's shock by US red hot inflation, which spurred volatility, boosted the US Dollar and US yields and sent Wall Street lower.
Headline Consumer Price Index (CPI) jumped 7.5% year-over-year in January and Core CPI surged 6.0% year-over-year, both the highest since 1982. This led to aggressive market expectations for a larger 50 basis points rate hike by the Fed in March.
Today's data, showed steady German CPI Inflation of +4.9% year-over-year in January (same as prior). Preliminary Q4 GDP in the UK was 6.5% y/y, from 7% prior (revised form 6.8%).
Coca-Cola Revenues rose 10% year-over-year in Q4 2021, to $9.5 billion, as per yesterday's report. The company's 2022 guidance of 7%-8% organic revenue growth, seemed to have disappointed markets. 
Twitter released its Q4 2021 financial results on Thursday - the first under new CEO Parag Agrawal. Revenue grew 22% year-over-year to $1.57 billion, while average monetizable Daily Active Usage (mDAU) wer 217 million, compared to 192 million a year ago and 211 million in Q3 2021. The social media firm offered a rather low forward guidance of $1.17- $1.27 billion Revenue for Q1 2022. 
Main Asia-Pacific stock markets followed Wall Street lower, with Japan out on holiday, while European futures are cautious. US 10YR Yields are tepid after yesterday jump, but remain above 2%.
The US Dollar is in demand and so is the Japanese Yen, whereas main Commodity Currencies (CAD, AUD, NZD) drop against both.
EUR/USD is down towards 1.1350, after yesterday's US CPI-induced wild ride.
GBP/USD is also on the back foot, but holds above 1.3500.
USD/JPY trades with positive undertone, but still below January's multi-year high (116.35).
USD/CAD remains on the offensive, but it cannot surpass 1.2750.
AUD/USD sheds around 0.5%, but defends 0.7100.
NZD/USD also slumps, giving 0.6650 up.
GER30 trades in negative territory, but covers most of earlier losses and reclaims 15,300.
US30 extends Thursday's losses, trying to hold 35,000.
USOIL is soft probing $89.50.
XAU/USD succumbs to the US Dollar's strength and breaches 1,825.
Economic Calendar Picks (GMT)
Today's economic calendar is pretty much empty, with Oil traders awaiting the Baker Hughes Rig Count.
See the economic calendar here.
Senior Market Specialist
Nikos Tzabouras is a graduate of the Department of International & European Economic Studies at the Athens University of Economics and Business. He has a long time presence at FXCM, as he joined the company in 2011. He has served from multiple positions, but specializes in financial market analysis and commentary.
With his educational background in international relations, he emphasizes not only on Technical Analysis but also in Fundamental Analysis and Geopolitics – which have been having increasing impact on financial markets. He has longtime experience in market analysis and as a host of educational trading courses via online and in-person sessions and conferences.