FX.co ★ European Economic News Preview: UK Retail Sales Data Due

The highlight of Friday's economic news in Europe will be the release of UK retail sales data. The report, scheduled for issuance at 2:00 am ET by the Office for National Statistics, is expected to demonstrate a 1.5% rise in sales for January, a significant improvement from the 3.2% drop witnessed in December.

Simultaneously, Germany's wholesale prices for January will be published by Destatis.

In other news, at 2:45 am ET, France's statistical office INSEE will release the final data on consumer price inflation for January. The inflation rate is predicted to remain unchanged at 3.1%, as per the initial estimates.

Later in the day, at 5:30 am ET, the speculative eyes will be on Russia's central bank as it announces its monetary policy decision. It is expected that the benchmark rate will remain as it is, at 16.00%.