China tech seen as dollar hedge, with focus on earnings, Fed.Lower valuations, government support and loose fiscal policy set against a cyclical backdrop in China is encouraging investors to rotate into ​technology and diversify away from the U.S., UBS fund managers told Reuters this ‌week in Davos, Switzerland.

U.S. Dollar Retreats As Services PMI Misses Estimates: Analysis For EUR/USD, GBP/USD, USD/CAD, USD/JPY.The American currency remains under pressure amid lack of positive catalysts.

Pound Sterling Price News and Forecast: Jumps above 1.3540 as UK Retail Sales, PMIs surprise higher.Pound Sterling Price News and Forecast: Jumps above 1.3540 as UK Retail Sales, PMIs surprise higher

Mixed Performance by the Pound After Weaker Job Data.Although the British job report was mostly negative, inflation rose more than expected to 3.4%

Fed Preview: Temporary Pause on Rate Cuts.Despite the recent geopolitical volatility, the Fed's January decision looks like a fairly clear-cut case. Powell communicated well in advance that unless warranted by significant macro surprises (which we have not seen), the Fed would be taking a pause in its rate cutting cycle in January – and we have no reason to doubt that.

FOMC Preview: On Hold Until When?.The FOMC is widely expected to leave the fed funds rate unchanged at its January meeting. There will be no update to the SEP at this meeting, and we expect the post-meeting statement and press conference to signal maximum flexibility as the Committee strives to keep its options open.

Natural Weekly Price Analysis – Natural Gas Rockets Higher as Cold Snap Comes.The natural gas market has shot straight up in the air all week as a cold snap has been hitting the US.

Dual Central Bank Announcements the Focus in Crowded Week.Canada's economic calendar starts kicks off next week with the Bank of Canada's first meeting of 2026 on Wednesday, where no change to the overnight rate is expected.

US PMI composite ticks up to 51.9, worryingly subdued new business growth.U.S. business activity remained in expansion territory in January, but signs of cooling momentum emerged. PMI Manufacturing edged up from 51.8 to 51.9, while PMI Services was unchanged at 52.5, lifting Composite PMI marginally from 52.7 to 52.8.

Crude Oil Price Analysis – Crude Continues to See Range Forming.Crude oil continues to form a nice trading range as traders are stuck between narratives of trade wars and supply/demand imbalances.

United States S&P Global Composite PMI: 52.8 (January) vs 52.7.United States S&P Global Composite PMI: 52.8 (January) vs 52.7

United States S&P Global Services PMI came in at 52.5, below expectations (52.8) in January.United States S&P Global Services PMI came in at 52.5, below expectations (52.8) in January

United States S&P Global Manufacturing PMI came in at 51.9 below forecasts (52.1) in January.United States S&P Global Manufacturing PMI came in at 51.9 below forecasts (52.1) in January

USD/JPY forecast: Forex Friday | January 26, 2025.The USD/JPY, and more noticeably other JPY pairs, have been quite strong in recent months, thanks the ongoing weakness in the yen. The USD/JPY is being pulled in opposite directions.

Canada: Retail Sales Rebound in November, Lose Steam in December .Gains were broad-based across most categories, led by a strong rebound in food and beverage retailers (+3.0% m/m). Part of this strength reflects volatility in beer, wine and liquor retailers, which bounced back after a sharp decline in previous month due to a labour dispute in British Columbia.

Natural Gas Price Analysis – Natural Gas Struggles to Overcome Psychological Barrier.Natural gas markets have recently rocketed to the upside to break above the $5.60 level at one point during the Thursday session, but at this point, it looks like gravity has reintroduced itself to the picture.

Yen Bounce Short-Lived Without Market Buy-In, Loonie Bounces After Retail Sales.Yen's sharp rebound today, triggered by suspected official intervention, is already fading quickly, highlighting the market's skepticism toward one-off defensive actions. After an abrupt spike higher, the currency quickly lost momentum as traders faded the move.

USD/JPY – 23.01.2026.USDJPY rapidly dropped today after the BoJ announcement. However, the market managed to re-test the support at 157.30-60, which still holds so far as another advance is still expected with resistances at 159.45 and 160.20.

Canada retail sales rise 1.3% mom in November, but December cools.Canada's retail sales rebounded strongly in November, rising 1.3% mom to CAD 70.4B, slightly above expectations of 1.2% mom. Gains were broad-based, with sales increasing in eight of nine subsectors, led by higher spending at food and beverage retailers, pointing to resilient consumer demand late in the year.

Canada Retail Sales ex Autos (MoM) came in at 1.7%, above forecasts (1.2%) in November.Canada Retail Sales ex Autos (MoM) came in at 1.7%, above forecasts (1.2%) in November

Canada Retail Sales (MoM) came in at 1.3%, above expectations (1.2%) in November.Canada Retail Sales (MoM) came in at 1.3%, above expectations (1.2%) in November

Foreign direct investment in China slides 9.5% in 2025.Foreign direct investment in China totalled 747.7 billion yuan ($107.38 billion) in 2025, down 9.5% year-on-year, data from the commerce ministry showed on Friday.

Sterling set for best week against dollar since August after data boost.Sterling rose on Friday and was set for its best week against the dollar since August, after stronger-than-expected UK retail sales and business activity figures ended a week of mixed economic data.

investingLive European markets wrap: Yen jumps after suspected 'rate check' from Tokyo.The Bank of Japan (BOJ) decision today went as expected and so did Ueda's press conference for the most part. The Japanese central bank governor didn't offer much on what the BOJ would do to help with the yen currency plight and that triggered some selling pressure as we got into early European trading.

BOJ Maintains Steady Policy, Heightened Intervention Watch, while PBOC sets Dollar Fix Below CNY7.0.The dollar is mixed as the last North American session of the week gets underway. As widely expected, the Bank of Japan left rates on hold and the gyrations of the yen immediately afterward gave rise to some speculation of material intervention.

Why GBP/JPY Is Soaring to 18-Year Highs in Early 2026 and What to Expect.GBP/JPY has just risen to the highest level since the 2008 financial meltdown era and the Japanese political arena adds fuel.

India Bank Loan Growth unchanged at 14.5% in January 5.India Bank Loan Growth unchanged at 14.5% in January 5

India FX Reserves, USD rose from previous $687.19B to $701.36B in January 12.India FX Reserves, USD rose from previous $687.19B to $701.36B in January 12

 USD/JPY holds losses near 158.00 amid growing intervention rumours . USD/JPY holds losses near 158.00 amid growing intervention rumours 

Global equity funds see record outflows as U.S., China withdrawals surge, TD Securities says.Global equity funds recorded their largest outflows on record, as heavy withdrawals from the U.S. and China outweighed a relatively strong showing in other regions, TD Securities strategists said in a Friday note analysing EPFR data.