Japan, Eurozone GDP and PMI Data, Central Banker Speeches Highlight Friday Calendar

The clustering of eurozone GDP and inflation prints with a dense slate of central bank speakers puts policy tone and growth data on the same day, so markets will have to weigh soft activity signals against sticky inflation in real time. Japan's Ueda press conference carries particular weight for yen-sensitive RWA and crypto markets, given how BOJ communication has moved cross-asset positioning. The open question is whether the data and speeches reinforce a divergence between eurozone and US policy expectations heading into the weekend, with China's PMI and the North American time shift adding a timing wrinkle to Monday's open.