MUFG’s Michael Wan views the detailed US–India interim trade deal, including tariff cuts and exemptions, as positive for India’s external position. He sees scope for USD/INR to briefly break below 90 in coming months, but expects only a shallow INR recovery.
Commerzbank’s FX analysts note that Singapore’s 2026 Budget emphasizes supply-side support, SME internationalisation and capital-market development, including fresh funding for the Equity Market Development Programme and Anchor Fund.
MUFG’s Lin Li and Khang Sek Lee note that China’s January CPI slowdown was heavily distorted by Chinese New Year base effects, with food and services dragging headline inflation. PPI deflation narrowed on stronger global metals prices and tech-related demand.
Standard Chartered’s Senior Economist Tommy Wu raises Hong Kong’s 2026 GDP growth forecast to 3.2% from 2.5%, citing robust Q4 momentum, stronger financial activity and improving consumer sentiment.
UOB economists Julia Goh and Loke Siew Ting note Malaysia’s 4Q25 GDP grew 6.3% year-on-year, the fastest since 4Q22, lifting full-year 2025 growth to 5.2%.
Silver (XAG/USD) price advances on Friday, bouncing off daily lows around $74 and posting gains of over 2.50%, yet it is poised to end the week on a negative note. A softer-than-expected US inflation report pushed the white metal higher, and it trades at $77.20 a troy ounce ahead of the weekend.
Commerzbank analysts explain that India’s new CPI series shows January inflation at 2.8% year-on-year, back within the RBI’s 2–6% target band. The reweighted basket reduces food’s share and should damp volatility.
Federal Reserve (Fed) Bank of Chicago President Austan Goolsbee noted on Friday during an interview with Yahoo Finance that although interest rates are poised to come down further, moves on policy rates are contingent on further taming of services inflation.
The US Dollar (USD) lost major ground over the week, briefly gaining some strength after better-than-expected United States (US) jobs data, as the January Nonfarm Payrolls report showed 130K new jobs were added. Also, the Unemployment Rate fell to 4.3% from 4.4%.
Standard Chartered’s Senior Economist Tommy Wu raises Taiwan’s 2026 GDP growth forecast to 8.0% from 3.8%, citing strong Q4-2025 expansion and robust global semiconductor demand.
Gold (XAU/USD) price makes a U-turn on Friday and trims some of Thursday’s losses, rising nearly 2% following the release of a softer-than-expected inflation report in the US, which increased speculation that the Federal Reserve (Fed) could lower rates.
MUFG’s Senior Currency Analyst Lloyd Chan notes that Singapore’s FY26 budget marks a strategic pro‑growth pivot, with higher development spending aimed at building national AI capabilities, supporting enterprise funding, and attracting high‑quality capital.
Standard Chartered’s Edward Lee and Jonathan Koh highlight that Malaysia’s economy grew 5.2% in 2025 after 5.1% in 2024, driven by strong domestic confidence, AI-related investment and accommodative policy.
MUFG’s Senior Currency Analyst Lloyd Chan notes that India’s CPI inflation under the rebased 2024 series rose to 2.8% year-on-year, driven mainly by food prices.
US Treasury Secretary Scott Bessent sounded confident on the inflation outlook, suggesting price pressures could return close to the Fed’s 2% target by mid-year.
The Dow Jones Industrial Average (DJIA) bounced back on Friday, climbing around 220 points to trade near 49,665 after opening at 49,366. The recovery followed Thursday's punishing 669-point selloff that was driven by fears of AI-led disruption across software, trucking, and real estate sectors.
ING’s David Havrlant expects Czech inflation to soften further in 2026 as food prices decelerate, with headline inflation seen near 1% in summer and core inflation easing in the second half.
The Japanese Yen (JPY) rebounds against the US Dollar (USD)on Friday, as the Greenback trims earlier gains after softer-than-expected US inflation data.
USD/CAD trades in a tight range on Friday, as the US Dollar (USD) holds firm despite softer-than-expected US inflation data. At the time of writing, USD/CAD is hovering near 1.3625, holding modest gains and remaining on the front foot for a third consecutive day.
Nordea’s Ole Håkon Eek-Nielsen and Jan von Gerich note that the ECB remains relaxed about lower inflation and FX moves, and is firmly on hold.
The GBP/USD pair holds firm at around 1.3620 as the latest inflation report in the United States prompted traders to reprice the likelihood of an interest rate reduction by the Federal Reserve (Fed) at the June meeting.
EUR/CHF extends its decline on Friday, as Swiss inflation data supports the Swiss Franc (CHF). At the time of writing, the pair is trading around 0.9120, hovering near the all-time low of 0.9095.
Bank of England (BoE) Chief Economist Huw Pill said on Friday he does not see a collapse in activity, citing forward-looking indicators at an event hosted by Santander, a bank, in London.
National Bank Of Canada’s Ethan Currie and Taylor Schleich stress that the U.S. fiscal trajectory remains unsustainable despite additional tariff revenues.
Rabobank’s Philip Marey argues that Kevin Warsh’s nomination as Fed Chair points to lower US policy rates in 2026, with three 25 bps cuts expected, slightly below the current neutral rate estimate.
Gold (XAU/USD) edges higher on Friday as soft US CPI data bolstered expectations for interest-rate cuts by the Federal Reserve (Fed). At the time of writing, XAU/USD is trading around $5,000, rebounding after sliding to a near one-week low on the previous day near $ 4,880.
ING economists Rafal Benecki and Adam Antoniak note that Poland’s January CPI surprised on the upside due to technical factors and volatile components, but headline inflation remains below the National Bank of Poland target.
Commerzbank’s Thu Lan Nguyen highlights that German gas storage is only about 25% full, far below past norms, but an outright shortage this winter is still seen as unlikely thanks to flexible LNG imports.
The Euro (EUR) regains some ground against the US Dollar (USD) on Friday, with EUR/USD clawing back part of its earlier losses as soft US Consumer Price Index (CPI) data pressures the Greenback.
TD Securities strategists Ryan McKay and Daniel Ghali outline how rising Middle East tensions and Iran-focused scenarios could reshape Oil markets.
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