Friday, Eurozone and Italian industrial orders data are due.

At 3.00am ET, the German import price report for January is due from the Federal Statistical Office. Following a 5.1% fall in December, import prices are forecast to fall 6% year-on-year in January. A monthly fall of 0.4% is expected for January.

Thereafter, a final quarterly national account is due from the French statistical office INSEE at 3.45am ET. The preliminary estimate showed a sequential contraction of 1.2% in the fourth quarter GDP. The statistical office is expected to confirm the initial estimate.

At 5.00am ET, the Italian statistical office ISTAT is slated to release industrial orders for January. Economists forecast orders to drop 4.5% month-on-month in January, after decreasing 2% in December.

Half an hour later, UK's fourth quarter GDP and current account reports are expected from the Office for National Statistics. The current account deficit is estimated to decline to GBP 5.9 billion from GBP 7.7 billion in the third quarter.

According to an earlier estimate, the British economy contracted 1.5% sequentially in the fourth quarter of 2008 and dropped 1.9% annually. Economists expect the ONS to maintain its initial estimate.

At 6.00am ET, the Eurostat is scheduled to issue Eurozone industrial new orders for January. Industrial new orders are expected to plunge 28.4% in January from the previous year versus 22.3% decrease in December.

At 6.30am ET, the Swiss KOF leading indicator is due. The index reading is seen at minus 1.55 in March compared to minus 1.41 in February.

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