The Korean Won is under pressure despite a benign macro backdrop, with recent GDP data showing contraction. The Bank of Korea is expected to maintain its policy rate amid rising home prices and volatility in the KRW.

Standard Chartered's report, authored by Carol Liao, Senior Economist and Moriarty Lam, Research Analyst, highlights that China's household consumption is likely underestimated due to unaccounted government transfers and strong RMB purchasing power.

In their latest report, TD Securities analysts Prashant Newnaha and Alex Loo argue that fears surrounding Japan's fiscal outlook are exaggerated. They highlight that Japan's Gross Debt to GDP ratio is misleading due to significant government assets.

The preliminary estimate for January Eurozone HICP inflation eased to 1.7% y/y, down from 1.9% in December, aligning with expectations. Core inflation also fell to 2.2% y/y. The ECB is expected to keep interest rates unchanged amid concerns about inflation undershooting its target.

Despite the weakened Danish Krone (DKK) against the Euro (EUR), the Danish central bank has not intervened in the foreign exchange market, indicating that the current interest rate spread will likely remain unchanged.

Economic activity in the US service sector remained unchanged in January, with the ISM Services PMI holding steady at 53.8. The print, however, came in above analysts' expectations of 53.5.

United States ISM Services Prices Paid increased to 66.6 in January from previous 64.3

United States ISM Services PMI came in at 53.8, above expectations (53.5) in January

United States ISM Services Employment Index came in at 50.3, below expectations (52.3) in January

United States ISM Services New Orders Index fell from previous 57.9 to 53.1 in January

United States S&P Global Composite PMI came in at 53, above forecasts (52.8) in January

United States S&P Global Services PMI above forecasts (52.5) in January: Actual (52.7)

Inflation in the Euro-area has decreased to 1.7% y/y in January, while core inflation remains stable at 2.2%. ECB is expected to maintain its current policy stance due to the calm inflation outlook, despite some uncertainty from volatile energy prices.

Deutsche Bank Research Team highlights a recurring market pattern in 2026 characterized by sharp sell-offs followed by rapid recoveries. Despite various causes for these sell-offs, they have not resulted in lasting damage, with the S&P 500 showing resilience.

United States ADP Employment Change came in at 22K, below expectations (48K) in January

TD Securities' Global Strategy Team provides insights on upcoming US employment data, predicting below-consensus estimates for both ADP employment and ISM services. The report highlights a potential modest bull steepening on ADP as markets await the delayed NFP report.

United States MBA Mortgage Applications fell from previous -8.5% to -8.9% in January 30

The Pound has continued to strengthen ahead of the Bank of England's policy meeting. EUR/GBP has broken below support from the 200-day moving average at around 0.8650.

Italy Consumer Price Index (MoM) in line with forecasts (0.4%) in January

Italy Consumer Price Index (YoY) meets forecasts (1%) in January

Italy Consumer Price Index (EU Norm) (MoM) in line with forecasts (-1%) in January

Italy Consumer Price Index (EU Norm) (YoY) above expectations (0.9%) in January: Actual (1%)

United Kingdom S&P Global Composite PMI registered at 53.7, below expectations (53.9) in January

United Kingdom S&P Global Services PMI came in at 54 below forecasts (54.3) in January

Spain HCOB Services PMI below expectations (56.5) in January: Actual (53.5)

BNY's report discusses the current expectations in the fixed income markets, particularly regarding the European Central Bank's monetary policy.

The Automatic Data Processing (ADP) Research Institute will release its monthly report on private-sector job creation for January on Wednesday.

Russia S&P Global Services PMI: 53.1 (January) vs 52.3

India HSBC Composite PMI down to 59.4 in January from previous 59.5

India HSBC Services PMI below expectations (59.4) in January: Actual (58.5)