Australia Private Sector Credit (YoY): 7.7% (January)

United Kingdom GfK Consumer Confidence came in at -19 below forecasts (-15) in February

Japan Large Retailer Sales up to 3% in January from previous 2%

Japan Retail Trade s.a (MoM) increased to 4.1% in January from previous -2%

Japan Industrial Production (YoY) down to 2.3% in January from previous 2.6%

Japan Retail Trade (YoY) came in at 1.8%, above forecasts (-0.4%) in January

Japan Industrial Production (MoM) came in at 2.2% below forecasts (5.3%) in January

Japan Foreign Investment in Japan Stocks: ¥402B (February 20) vs previous ¥1424.2B

BNY’s Head of Markets Macro Strategy Bob Savage highlights USD/SGD as the weakest non-carry pair over the past month, with sustained net selling pressure. However, the last two sessions have seen softer outflows, suggesting momentum is turning.

Japan Tokyo CPI ex Fresh Food (YoY) above forecasts (1.7%) in February: Actual (1.8%)

Japan Tokyo Consumer Price Index (YoY): 1.6% (February) vs 1.5%

Japan Tokyo CPI ex Food, Energy (YoY): 1.8% (February) vs previous 2%

Brown Brothers Harriman’s (BBH) Elias Haddad notes the Dollar is mixed within a multi‑month range while USD/CNH continues to grind lower, reaching its weakest level since March 2023. The bank sees further downside potential as a stronger Yuan supports China’s shift toward consumption-led growth.

Statistics Bureau of Japan will publish its data for February on Friday at 23.30 GMT. The Tokyo CPI measures the price fluctuation of goods and services purchased by households in the Tokyo region, excluding fresh food, whose prices often fluctuate depending on the weather.

Standard Chartered economists Carol Liao and Shuang Ding expect China to set a 2026 GDP growth target of 4.5–5.0% at the National People’s Congress, slightly below 2025.

New Zealand ANZ – Roy Morgan Consumer Confidence dipped from previous 107.2 to 100.1 in February

DBS Group Research economist Chua Han Teng notes that the Bank of Thailand surprised markets with a 25bps rate cut to 1.00% at its first 2026 meeting, following earlier easing since October 2024.

Federal Reserve (Fed) President of the Bank of Chicago, Austan Goolsbee, said interest rates can come down, but they don't want to front-load before inflation eases. He also added he wants the Fed to be careful in a Fox News Interview on Thursday.

ABN AMRO economists Jan-Paul van de Kerke and Max Raatjes report that stronger-than-expected Dutch GDP in Q4 2025 and solid momentum into 2026 have led them to upgrade growth forecasts.

Nordea’s Group Chief Economist Helge J. Pedersen notes that Prime Minister Mette Frederiksen has called a Danish parliamentary election for Tuesday, March 24. The current three-party government of the Social Democrats, Venstre and the Moderates is unlikely to remain unchanged.

United States 7-Year Note Auction dipped from previous 4.018% to 3.79%

ING analysts Frantisek Taborsky and David Havrlant say Czech fiscal policy has loosened only marginally after the election, with the public finance deficit seen at 2.2% of GDP in 2026 and risks tilted higher.

UOB’s Global Economics & Markets Research expects Bank of Korea to keep the base rate at 2.50% throughout 2026, after a sixth consecutive hold in February.

United States 4-Week Bill Auction: 3.625%

United States Kansas Fed Manufacturing Activity up to 10 in February from previous -2

United States EIA Natural Gas Storage Change rose from previous -144B to -52B in February 20

TD Securities argues US political dynamics will shape Dollar and EMFX performance into 2026.

Standard Chartered economists Christopher Graham and Saabir Salad argue that stronger UK activity data in early 2026 raises questions about how quickly the Bank of England will cut rates.

Federal Reserve (Fed) Governor Stephen Miran said that he has not seen anything worrisome yet in private credit despite some bumps, and added that prices right now seem stable, in an interview with Fox Business on Thursday.

Commerzbank’s Dr. Marco Wagner introduces a new financial impulse indicator based on the Fed's FCI-G indicator that signals how strongly the financial environment is driving or slowing down the economy.