Daily Market Insight

• U.S. trade gap widens in December; deficit highest on record in 2022 • UK construction slips to near 3-year low, but confidence rises • Japan current account surplus shrinks sharply as weak yen, trade deficits bite • Dollar pulls back as Powell sticks to usual Fed playbook

• U.S. service sector rebounds in January • Euro zone investor morale rises for fourth month in a row • Japan Dec real wages post first rise in 9 months on 26-year-high nominal growth • Oil prices rise on China hopes, but Fed caution limits gains

• U.S. nonfarm payroll growth blows past forecasts in January, up 517k • Euro zone business activity returned to growth in January • Japan Jan services activity growth at three-month high • Dollar jumps after "monster" job report

• U.S. weekly jobless claims drop to nine-month low; productivity gains speed • ECB raises rates, signals at least one more hike • Bank of England hints rates near peak after 10th hike • Dollar at nine-month low after Fed guidance brings pivot into sight

• Fed delivers small rate increase; Powell suggests 'couple' more hikes coming • ECB to raise rates again and face questions about future path • BoE set to lift rates to 14-year high, might hint at next moves • Oil prices buoyed by dollar weakness as central banks take focus

• U.S. consumer confidence ebbs in January; inflation expectations rise • Euro zone economy unexpectedly grows in Q4 but weak 2023 looms • China manufacturing PMI disappoints in Jan despite COVID reopening • Wage data dents dollar recovery before Fed rate decision

• U.S. pending home sales post first gain in seven months in December • Euro zone economic sentiment rises in January to seven-month high • Chinese business activity rebounds in January after COVID pivot • Oil prices tread water as markets weigh China recovery, Fed caution

• U.S. consumer moods brighten to kick of 2023, inflation views down • Tokyo CPI inflation rises more than expected in January • Canada records C$3.55 billion budget deficit over first eight months of 2022/23 • Dollar's comeback beginning to look 'appealing' as U.S. stocks enter rally mode

• U.S. economy posts strong growth in Q4, but with underlying weakness • Consumer inflation in Japan's capital hits near 42-year high, keeps BOJ under pressure • Philippines 2022 GDP growth quickest in over 4 decades, but outlook challenging • Oil treads water ahead of OPEC+ panel meeting, PCE inflation data

• Key US Inflation Gauge Seen Slowing But Leaving Fed Wanting More • German business morale brightens further in January • New Zealand CPI inflation sticks to 32-year high in Q4, misses RBNZ forecast • Dollar near eight-month low ahead of central bank meetings