Having struggled to make progress on shows....>

CABLE: Having struggled to make progress on shows above $1.2800 (high Jan9

$1.2804, Jan10 $1.2801) cable eased through Europe Thursday, eventually touched

a corrective pullback low of $1.2728 ahead of the NY open. USD came under fresh

pressure in NY, edged cable back up to $1.2781 before it settled back around

$1.2745 into the close. Fed Vice Chair Clarida continued the recent dovish tone

in a speech last night which acted to weigh on the USD again. Cable edged to a

high of $1.2768 in Asia before momentum faded and short term spec longs pared

back positions into Europe as rate eased to $1.2752. 

- Brexit headlines remain key for sterling direction, US rate path influencing

Cable as well. 

- UK GDP, IP/Mfg, Construction and Trade data all due at 0930GMT. GDP to provide

a better picture of Q4.

- US CPI 1330GMT, market median -0.1%mm, 1.9%yy. Ex food, energy 0.2%mm, 2.2%yy.

- Cable support $1.2740, $1.2728. Resistance $1.2780, $1.2800/10. 

- EUR/GBP back above Gbp0.9000 but remains anchored close to this level.