Commerzbank’s Volkmar Baur notes that China’s Q4 2025 current account surplus hit a record USD 242 billion, or 4.9% of GDP, reinforcing the view that the Yuan remains tightly managed.

MUFG’s Senior Currency Analyst Lee Hardman notes that UK rate markets now price another Bank of England cut as early as next month after a dovish MPC update. Governor Bailey and MPC member Mann have signalled openness to easing, contingent on data.

A Reuters poll conducted on February 10-16, revealed that economists are eyeing a 25 basis points rate cut by the Bank of England at the next meeting.

Colombia Gross Domestic Product (YoY) came in at 2.3%, below expectations (3.1%) in 4Q

DBS Group Research Chief Economist Taimur Baig, highlights signs of slowing US consumption after strong 2025 growth. He notes softer retail sales momentum in 4Q25 and a downgrade in real-time GDP estimates.

ING’s commodities team notes that talk of a partial rollback of US aluminium tariffs is unlikely to materially change market conditions. They stress that the core 50% levy on primary Aluminium remains, leaving domestic capacity constraints and elevated Midwest premiums intact.

MUFG’s Senior Currency Analyst Lee Hardman notes that the Reserve Bank of New Zealand is widely expected to keep the Official Cash Rate unchanged at its first 2026 meeting (Feb 18), after signalling November’s cut was the last of the cycle.

National Bank Of Canada analysts Daren King and Jocelyn Paquet expect Canada’s January CPI to be unchanged on the month, pulling headline inflation down to 2.3% and trimming CPI-trim slightly, while CPI-median stays at 2.5%.

Canada Housing Starts s.a (YoY) registered at 238K, below expectations (263.3K) in January

ING’s Chief Economist Peter Vanden Houte notes that Eurozone industrial production declined in December but still showed annual growth, and argues that the cyclical recovery should continue.

DBS Group Research economist Eugene Leow discusses USD rates as market participants reassess views following volatility and mixed US data. He notes 10Y US Treasury yields are nearing a 4% near-term forecast and describes a Goldilocks US economy with strong NFP and softer CPI.

OCBC strategists Sim Moh Siong and Christopher Wong note that recent equity market turbulence has coincided with further Swiss Franc gains, with EUR/CHF consolidating well below 0.92.

India Trade Deficit Government above expectations ($26.14B) in January: Actual ($34.68B)

Commerzbank’s Tatha Ghose highlights that the Russian central bank cut rates by 50 bps and raised its 2026 inflation forecast, while still projecting significantly lower average rates by 2027.

Deutsche Bank economists expect US real GDP growth to slow to 2.5% in Q4 2025 from 4.4% previously, with much of the deceleration attributed to the record-long government shutdown.

HSBC Asset Management highlights strong recent gains in Asia Pacific stocks excluding Japan and argues that regional fundamentals are now driving performance. The report cites macro reforms, derisked economies, resilient domestic demand and Asia’s central role in the global tech and AI supercycle.

Turkey Budget Balance down to -214.54B in January from previous 528.14B

BNY’s EMEA Macro Strategist Geoff Yu argues that tighter global financial conditions and peaking risk appetite are challenging EM FX carry trades. High-yielding and Latin American currencies face outflows as holdings remain elevated, while EM allocations are still low in global portfolios.

India WPI Inflation came in at 1.81%, above expectations (1.25%) in January

Commerzbank’s Thu Lan Nguyen explains that the ECB’s expansion of its EUREP facility to all eligible non‑Euro central banks is aimed at boosting Euro liquidity globally and supporting the Euro’s international role.

Japan Industrial Production (YoY) remains unchanged at 2.6% in December

Japan Industrial Production (MoM) in line with expectations (-0.1%) in December

Japan Capacity Utilization up to 1.3% in December from previous -5.3%

EUR/JPY extends its gains for the second successive session, trading around 181.60 during the Asian hours on Monday.

China House Price Index dipped from previous -2.7% to -3.1% in January

The Japanese economy expanded 0.1% over the quarter in the fourth quarter (Q4) of 2025, the preliminary report published by the Cabinet Office showed on Monday. This reading marks a reversal from a 0.7% contraction recorded in Q3, though it fell short of market expectations for a  0.4%.

United Kingdom Rightmove House Price Index (YoY) declined to 0% in February from previous 0.5%

United Kingdom Rightmove House Price Index (MoM) dipped from previous 2.8% to 0% in February

Japan Gross Domestic Product (QoQ) came in at 0.1% below forecasts (0.4%) in 4Q

Japan Gross Domestic Product Deflator (YoY) remains unchanged at 3.4% in 4Q