FXStreet reports that analysts at Danske Bank outlined Friday's important releases, which includes the flash version of the Eurozone Q4 GDP print and consumer inflation figures.

"In the euro area we look forward to some interesting data releases with both Q4 GDP and preliminary January HICP figures out today. While leading indicators have pointed to some rays of light lately, industry has likely remained in recession in Q4 and hence we look for continued muted growth of 0.2% q/q in Q4."

"More upbeat is the outlook on the inflation front, where we expect another increase in HICP inflation to 1.4% in January. That said, the increase will mainly be driven by a rebound in energy and food prices, while we expect core inflation to fall back to 1.2%."

"The UK is set to leave the EU officially at midnight, more than three years after the Brexit vote."