USD/JPY tilted lower in Asian trade off January 21 highs following earlier industrial data from Japan and ahead of US data today. 

As of 05:59 GMT, USD/JPY shed 0.01% to 109.81, with an intraday low at 109.73. 

Earlier Japanese data showed the Tertiary Industry Activity index down 0.2%, compared to a 1.4% rise in November. 

From the US, retail sales are expected up 0.3% as before, while core sales are estimated up 0.3%, slowing down from 0.7%. 

Import prices are expected down 0.2% in January, while industrial production is estimated down 0.2% as well in December. 

The capacity utilization rate is expected down to 76.9% from 77% in December, while business inventories are estimated up 0.1%. 

Federal Reserve Bank of Cleveland President Loretta Mester will   speak about payments modernization at the University of South Florida, in Sarasota.

Euro tilted lower on Friday for a third session in a row against dollar ahead of European growth data for the fourth quarter of last year. 

EUR/USD shed 0.1% to 1.0827, the lowest since April 24, with a session-high at 1.0842. 

Euro lost 0.3% on Thursday, the second loss in a row on European economic slowdown fears. 

Euro is down 1.1% on the week as analysts expect the European Central Bank to expand its monetary easing program to bolster the economy. 

Earlier European data showed manufacturing declined more than expected in December in the euro zone. 

Euro zone GDP data will be released today, expected to show a 0.1% growth in the fourth quarter. 

Soybean futures rose on Thursday, bolstered by renewed hopes about China to increase its purchases of US farm goods according to the phase-one trade deal between the two countries.

Soybean prices were also buoyed by a drop in the US domestic crop production, despite forecasts of a strong harvest season in South America, especially by Brazil and Argentina.

The US investors fear that the strong performance by the dollar will impact demand for US agricultural crops, compared to the weak Brazilian real, and the Argentine peso.

It's worth mentioning that the US has signed with China the phase-one of the trade pact on Jan. 15, which consisted of Beijing purchasing $200 billion worth of US goods and services over two years, including about $40 billion of farm goods.

Soybean March futures rose 0.4% to settle at $8.95 a bushel, after hitting a high of $8.99, and a low of $8.88.

US stocks fell on Thursday, weighed down by the renewed fears over the coronavirus spread, in addition to less-than-expected economic data.

The Chinese government revealed today that the coronavirus death toll rose to more than 1367 victims, and infected about 60,000 people.

Data showed today that the jobless claims in the US increased by 2000 to 205,000 in the past week, while the CPI reading rose by 0.1% during January, lower than forecasts of 0.2%.

To the oil market, WTI crude gained 0.5% to close at $51.42 a barrel, after it hit a day high of $51.9 and a low of $50.6.

Brent rose by 1% to $56.34 a barrel, with a high of $56.8 and a low of $54.9.

As for stocks, Dow Jones lost 0.4% or 128 points to settle at 29,423, and hit an intraday high 29,535 and a low 29,345.

Nasdaq fell by 0.1% or 14 points to 9,712 points, with a high of 9,748 and a low of 9,650 points.

S&P 500 fell by 0.1% or 5 points to close at 3,374 with a high of 3,3385 and a low of 3,360.