Daily Market Insight

• US trade deficit rises marginally in December; narrows sharply in 2023 • Fed policymakers signal no rush to cut US interest rates • China's consumer prices fall 0.8% y/y, factory deflation persists • Dollar oscillates on less dovish Fed comments; yuan steady after inflation data

• Euro zone consumers trim near-term inflation expectations • German industrial orders post surprise rise in December • Japan's Dec real wages, household spending fall again • Dollar on defensive after pullback from nearly 3-month peak

• US service sector growth picks up in January • Euro zone economy showing some signs of recovery • German exports disappoint in December on weak global demand • Dollar surges to 11-week high as Fed rate cut bets diminish

• US labor market sizzles with blowout job growth, solid wage gains • US factory orders rise moderately in December • Japan's January service activity surges on strong demand, weak yen • Dollar jumps, traders pare rate cut bets after strong jobs report

• Strong US worker productivity keeps labor costs in check in fourth quarter • US job cuts more than double in January • Euro zone inflation dips but core figures may disappoint • Dollar falls, traders price for rate cut by May

• Fed leaves rates unchanged, but signals no rush to cut amid 'elevated' inflation • Japan Jan factory activity shrinks modestly on softer demand • Chinese manufacturing activity rises as expected in Jan • Dollar rebounds as Fed's Powell sees March rate cut as unlikely

• Euro zone economy lags global growth as Germany struggles • Japan Dec factory output rises on production machinery • BOJ made hawkish tilt in January, debated stimulus exit scenarios • Dollar mixed in tight trading range before Fed statement

• US Congress negotiators reach deal on 12 gov't spending bills • UK shop prices rise at slowest pace since May 2022 • China's January factory activity likely contracted but less sharply • Dollar gains on euro before Fed meeting

• US prices rise moderately in December; inflation trending lower • Euro zone inflation falling quicker than thought, data show • China's industrial profits fell 2.3% in 2023 • US dollar slips after inflation data, Fed meeting looms next week

• US economy grew by 3.3% in fourth quarter • German economy limps into 2024 as business sentiment falls • Tokyo CPI inflation falls more than expected to 22-month low in January • US dollar gains after GDP data; euro falls to six-week low after dovish ECB, Lagarde