China’s Manufacturing PMI (49.1) fell below 50, signaling economic contraction, while the Chinese New Year holiday throughout the week may lead to lower liquidity and increased volatility in Asian markets. In the U.S., Durable Goods Orders (-2.2%) and CB Consumer Confidence (104.1) came in weaker than expected, reinforcing concerns about slowing economic momentum. The FOMC meeting on Wednesday is expected to keep rates at 4.50%, but the statement and press conference will be closely watched for future policy guidance. Meanwhile, the U.S. GDP (2.3%) came in below expectations, adding to recession fears. In Europe, German GDP (-0.2%) confirmed economic contraction, while the ECB’s expected rate cut to 2.90% signals a shift toward a more dovish stance, likely pressuring the EUR/USD pair. The Bank of Canada also cut rates to 3.00%, reflecting economic slowdown concerns, which could weigh on the CAD. In the commodities space, Crude Oil Inventories (+3.463M) surpassed expectations, indicating weaker demand or increased supply, potentially putting downward pressure on oil prices. Overall, with major central bank decisions and slowing economic indicators, market volatility is expected, and risk sentiment will likely be driven by policy signals and growth outlooks.
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