Sterling trades with a firm tone in early.....>

CABLE: Sterling trades with a firm tone in early European trade Friday, cable

extending its recovery away from Thursday's low of $1.3782 to $1.3826 (Asia

range $1.3788-1.3816) at writing. If rate can build further expected to meet

next resistance up at $1.3850/55. Domestic focus this morning on release of UK

Trade and IP/Mfg data. The release of IP to provide the first hard inputs into

Q1 GDP(RBC). RBC adds that temperatures in Jan were close to the long term norm

with the recent cold snap to appear in Feb numbers and its increase in energy

demand. Outlook for IP/Mfg seen positive, median IP 1.5%mm, 1.9%yy; Mfg 0.2%mm,

2.8%yy. Into the afternoon and US Employment Report will draw the main

attention, median for NFP seen at 205k though more interest noted for AHP,

median 02.%mm, 2.8%yy. Brexit comment remains a directional factor.