There is no doubt about that Google is continuously updating and make a lots of changes in Search Ranking Algorithm. I saw in the SEO community and also search engine monitoring tools are lighting up. These are all signs that there was a Google search ranking algorithm update. But truth is, this algorithm update can be directly related to the featured snippet de-duplication change on January 22nd.
What I am saying is that the tools might not be ready to process the change and thus are showing changes to what is listed in the Google search results for the queries they track. Also, SEOs might be noticing those changes in those third-party tools and potentially also noticing changes in traffic because of the de-duplication efforts.
Some of the tool providers need to make updates:
So what you will see below is likely related to the Google featured snippets change and not necessarily a ranking algorithm update.
Search Engine Monitoring Tools Tracking Google Algorithm Update:
Advanced Web Rankings:
So I really doubt Google did an algorithm update, outside of the featured snippet de-duplication change. But if they did, it would be hard to know. I will suggest to all SEOs, Webmasters and Site Owners that keep monitor your daily traffic in Google Analytics and manually check your Keywords Ranking. If you see any changes, please share it here regarding this unconfirmed update. Forum discussion at WebmasterWorld.