UK natural gas futures fell below 71 pence per therm, the lowest since January 5, due to unseasonably mild weather and robust supply outlooks. This downward movement marks a notable shift from the ten-month high of 103.7 pence on January 21, as current data indicates that British gas hubs are benefiting from a steady influx of liquefied natural gas (LNG) cargoes. Also, natural gas prices in the United States fell to a four-month low on warmer weather, increasing LNG availability for export to Europe and the UK. Still, the UK remains highly sensitive due to limited storage capacity and heavy reliance on imports. Domestic storage is around 32.4% full, with Humbly Grove Energy at 10.4%, Storengy UK at 24.3%, and Uniper Energy Storage Ltd at 69.5%.

UK Natural Gas Futures Fall to 6-Week Low

German natural gas futures fell below €32 per megawatt-hour, the lowest in five weeks, as milder weather forecasts reduced heating demand and eased near term supply concerns. Warmer and windier conditions are expected across central and western Europe, with temperatures in Germany projected to rise slightly above seasonal averages. Despite the price decline, storage levels remain tight, with inventories across the European Union below 34%, the lowest since 2022, and German storage under 24%. However, ample LNG supply and lower US prices have improved availability, helping limit fears of immediate shortages. Natural gas prices in the United States also fell to a four month low on warmer weather, boosting export potential to Europe.

Germany Natural Gas Futures Fall to 5-Week Low

Soybean futures hovered near $11.4 per bushel, close to their highest level in three months, supported by the one-year extension of the "Busan Truce". Under this renewed agreement between President Trump and President Xi Jinping, China has reportedly committed to purchasing 20 million metric tons of US soybeans for the current marketing year, providing a critical support floor for American producers. However, this bullish news is being tempered by the ongoing harvest in Brazil, where the National Supply Company raised its production forecast to 180 million metric tons. While recent heavy rains in South America have slowed harvest progress to roughly 21% completion and raised some quality concerns, the sheer volume of the Brazilian crop remains a primary headwind for further price appreciation. Additionally, traders are closely monitoring the latest NOPA crush report and weekly USDA export inspections, which showed China remains the primary destination for US beans.

Soybean Futures Hold Near 3-Month High

The FTSE 100 rose 0.8% to a record high near 10,556 on Tuesday, extending gains for a third session as weak labour data boosted expectations of further Bank of England rate cuts. UK unemployment unexpectedly rose to 5.2% in the three months to December, the highest since 2021, while wage growth slowed and payrolls declined, pointing to softer hiring and supporting hopes for looser policy. Rate cut bets lifted interest rate sensitive stocks, with housebuilders leading gains as borrowing cost expectations eased. Barratt Redrow rose more than 3%, while Persimmon and Taylor Wimpey gained around 2%. On the downside, mining shares weighed on the index as metals prices weakened. Gold miners were hit particularly hard, with Endeavour down 4% and Fresnillo falling 2.2% as precious metals retreated. Copper producer Antofagasta dropped about 3.9% as copper prices also moved lower.

FTSE 100 Rises to New Record

Frankfurt's DAX 40 gained some ground to close about 0.8% up at 24,998 on Tuesday, the highest in over a week, reflecting a more positive sentiment across European markets. This contrasts with Wall Street, where caution remains over the potential economic impact of artificial intelligence. Meanwhile, traders continue to assess the Federal Reserve’s likely moves ahead of Wednesday’s release of the January meeting minutes. However, geopolitical risks linger, with all eyes on the second round of nuclear negotiations between Iran and the United States in Geneva.

DAX Finishes at Over 1-Week High

European stocks closed sharply higher on Tuesday, gaining some traction following multiple muted sessions with strong support from financials and consumer discretionary companies. The Eurozone's STOXX 50 added 0.7% to 6,022 and the pan-European STOXX 600 gained 0.5% to 621.4, decimals away from the record high touched last week. Banks closed sharply higher and insurers gained for a second session, benefiting from another positive session for benchmark sovereign bonds. UniCredit, BNP Paribas, and AXA gained between 1.7% and 2.7%. Meanwhile, auto producers and luxury brands were supported by the outlook of a slash to metal tariffs by the United States and hopes of strong retail sales in China in their holiday period. LVMH, Mercedes Benz, and BMW gained between 2.5% and 1%. In turn, Bayer surged 7.5% as it prepared to announce a $10.5 billion settlement on future cancer lawsuits over its Roundup weedkiller.

STOXX 600 Approaches Record High

The FTSE MIB Index went up by 373 points or 0.82 percent on Tuesday to close at 45792 points. The rise was led by ERG (5.35%), Telecom Italia (2.98%) and Mediobanca (2.65%). On the downside, the weakerst performers were Diasorin (-6.69%), Leonardo SpA (-1.21%) and Stellantis N.V. (-1.08%).

The FTSE MIB Index Closes 0.82% Higher

The DAX Index rose 204 points or 0.82 percent on Tuesday to close at 25004 points. Leading the gains are Bayer (8.18%), Vonovia (3.99%) and Infineon (3.25%). Top losers were Qiagen NV (-3.69%), Siemens Energy (-1.99%) and Daimler Truck Holding AG (-1.85%).

The DAX Index Closes 0.82% Higher

The CAC 40 Index gained 49 points or 0.58 percent on Tuesday to close at 8365 points. Gains were led by Dassault Systemes (3.98%), Unibail Rodamco (2.98%) and AXA (2.73%). Biggest losers were Carrefour (-1.03%), Thales (-0.99%) and Stellantis NV (-0.92%).

The CAC 40 Index Closes 0.58% Higher

Wheat futures fell below $5.4 per bushel, pulling back from a three month high near $5.5 on February 12, as improving global supply expectations pressured prices. Higher production forecasts from Russia weighed on the market after Sovecon raised its 2026 harvest outlook to 85.9 million tons and IKAR projected output near 91 million tons, both pointing to ample export availability. Additional supply pressure came as India allowed limited wheat exports to support farmers following strong harvests. Easing concerns over winterkill damage in the Black Sea region, particularly in Russia and Ukraine, also reduced fears of crop losses after earlier severe cold. Meanwhile, demand signals remained modest, with Thailand issuing a tender for at least 60,000 tons of feed wheat, but this was not enough to offset expectations of rising global supply.

Wheat Futures Fall from 3-Month High

Cocoa prices continued their slide to trade near $3,400 per tonne, a fresh low since October 2023, amid weaker demand and improved supply prospects, which have contributed to restocking in key producers in West Africa. Warehouses in Ghana and the Ivory Coast continue to accumulate unsold cocoa beans, even after Ghana cut farmer payouts to encourage supply. At the same time, ICE cocoa inventories rose to a 4.25-month high of 1,942,367 bags on Friday, signaling that more cocoa is available for immediate delivery than is being absorbed by the market. The accumulation of inventories and delays in sales increases the risk of additional pressure on international prices. Significantly enhanced production prospects are attributed to improved weather in West Africa, including Ivory Coast and Ghana, as well as higher production in South America.

Cocoa Futures at 2023-Lows

The FTSE 100 Index went up by 76 points or 0.72 percent on Tuesday to close at 10549 points. The rise was led by Barratt Redrow (3.31%), Compass (2.92%) and Pearson (2.88%). On the downside, the weakerst performers were Endeavour (-4.05%), Antofagasta (-3.91%) and Anglo American (-2.46%).

The FTSE 100 Index Closes 0.72% Higher

US natural gas futures fell 5% to around $3.07 per MMBtu, the lowest since October, as near-record production and milder weather forecasts eased supply concerns. Warmer-than-normal conditions are expected across much of the country through early March, keeping heating demand subdued and allowing utilities to retain more gas in storage than usual for this time of year. Output in the Lower 48 states averaged about 108.5 bcfd in February, up from 106.3 bcfd in January and close to December’s monthly record, highlighting strong supply. Daily production recently peaked near 111 bcfd, close to record highs, further weighing on prices. At the same time, flows to major US LNG export plants climbed to 18.6 bcfd in February, above January levels and on track to exceed December’s record, offering some support but not enough to offset the impact of robust supply and mild weather expectations.

US Natgas Prices Fall to 4-Month Low

The CAC 40 rose 0.5% to close at 8,362, matching its January 9th record high as strength in financials and rate-sensitive names offset mixed sector performance. Banks led the advance, with BNP Paribas up 1.7%, Société Générale jumping 2.7%, and AXA adding 2.7%, supported by solid earnings momentum and a still-favorable rate backdrop. Real estate stocks also outperformed, with Unibail-Rodamco up 3%, as easing inflation expectations reinforced the outlook for more accommodative financing conditions. In luxury, LVMH gained 1.8% and L’Oréal rose 1.4%, counterbalancing a modest pullback in Hermès. Industrial and defense names were softer, with Thales and Dassault Aviation down over 2% each. While geopolitical developments, including US-Iran talks, remain on the radar, investors are primarily focused on upcoming final inflation readings for clearer signals on France’s economic and policy trajectory.

CAC 40 Closes at Record High

Silver fell more than 2% to below $73.5 per ounce, extending its three-week slide as a firmer US Dollar and recalibrated Federal Reserve expectations outweighed recent support from softer inflation. The DXY climbed as resilient nonfarm payrolls, solid private hiring, and expectations of continued US growth tempered the case for rapid rate cuts, sustaining rate differentials and pressuring dollar-denominated metals. The move follows January’s speculative surge, driven largely by Chinese retail flows, that pushed silver to record highs before a sharp unwind toward $64 as leveraged positions were liquidated. With Asian liquidity normalizing after holidays, focus now turns to Fed minutes and the core PCE release for clearer guidance on the policy path, while industrial demand signals remain secondary to currency dynamics in driving near-term price action.

Silver Drops More Than 2%

The annual inflation rate in Malawi eased for the third month to 24.9% in January 2026, the lowest since July 2022, compared to December's 26%. Food inflation slowed to 22.1% in January from 26.5% in December, while non-food inflation accelerated to 29.8% from 25.2% in the previous month. On a monthly basis, the CPI rose by 3.7%, after a 3% increase in the prior month.

Malawi Inflation Rate Softens to 3-1/2-Year Low of 24.9%

The Global Dairy Trade Price Index rose 3.6% to an average of $4,028 per tonne in the two weeks ending February 17, 2026, building on a 6.7% increase in the prior period. The latest advance marked a fourth consecutive gain, supported by broad-based strength across key products. Butter led the rise with a 10.7% increase, followed by lactose (7.8%), mozzarella (5.0%), anhydrous milk fat (3.8%), skim milk powder (3.0%), and whole milk powder (2.5%). In contrast, cheddar prices edged down 1.0%, partially offsetting the overall gains.

Global Dairy Prices Extend Rally on Broad-Based Gains

Wind Energy Index increased to 23.53 USD, the highest since February 2021. Over the past 4 weeks, Wind Energy Index gained 9.45%, and in the last 12 months, it increased 56.21%.

Wind Energy Index Hits Near 5-year High

Gold fell more than 2% to around $4,870 per ounce as a strengthening US Dollar Index and recalibrated expectations for Federal Reserve easing eroded bullion’s near-term support. The USD extended its rebound as investors reassessed monetary policy trajectories, with January’s softer US inflation print reinforcing expectations for more than one rate cut this year, robust nonfarm payroll growth, firm private hiring, and projections of continued GDP expansion have tempered the case for an imminent or aggressive easing cycle. That combination has preserved US rate differentials and lifted the dollar, exerting downward pressure on dollar-denominated gold. Although ongoing geopolitical flashpoints, including renewed US-Iran nuclear discussions and negotiations between Russia and Ukraine, continue to underpin gold’s safe-haven appeal, the dominant driver in this phase has been the currency channel.

Gold Extends Downturn

South Africa’s 10-year government bond yield eased further to around 7.91%, nearing the lows last recorded in March 2015, reflecting investor optimism ahead of the 2026 budget, as inflation is seen as anchored and fiscal risks are contained. Finance Minister Enoch Godongwana will outline South Africa’s fiscal strategy when presenting his budget to lawmakers on February 25, with soaring commodity prices expected to generate a windfall from higher-than-anticipated tax revenues. Godongwana will also update lawmakers on steps the government is taking to support growth and attract investment. Meanwhile, the upcoming inflation data for January will be closely watched for clues on the SARB's policy path.

South Africa 10-Year Bond Yield at 2015-Lows

The dollar index rose to above 97.5 on Tuesday, extending the rebound from earlier in the session as markets assessed the rate outlook for the Federal Reserve against those of other major central banks. While a tame inflation reading for January consolidated bets that the US central bank will deliver more than one rate cut this year, a robust macroeconomic backdrop favored calls by more hawkish members of the FOMC that have recently been rotated into the voting group. These were recently backed by sharp growth in non-farm employment during January and the upswing in employment counts by the ADP. Additionally, GDP data due later this week is expected to show another quarter of expansion. Pullbacks in G10 currencies also aided the greenback. Slower wage growth in the UK pressured the pound sterling, and declines in gauges of underlying inflation weakened the Canadian dollar.

US Dollar Index Extends Rebound

US stocks declined on Tuesday amid fresh pressure from tech giants on renewed uncertainty on the disruption that artificial intelligence may have on the corporate sector. The Nasdaq 100 fell more than 1%, while the S&P 500 dropped 0.7% and the Dow fell 250 points. Companies that sell software as a service remained under the spotlight on concerns that improvement in AI automation tools may displace demand for the sector. Oracle, Intuit, and Salesforce fell between 5% and 3%. Hardware producers that have benefited by the influx of datacenter capital expenditure also remained volatile on skepticism that spending will translate to the returns that were expected. AMD fell more than 4%, while Micron and Nvidia traded firmly in the red. Additionally, Crowdstrike fell plummeted 7% after Mizuho cut its recommendation on the firm. Meanwhile, banks and credit providers were firmly higher on fresh support from Treasuries, as hopes of lower rates by the Federal Reserve could spur credit activity.

Tech Weighs Further on US Stocks

The South African rand weakened toward 16.1 per USD, the lowest in over a week, pulled down by a stronger US dollar and falling prices of key precious metals, particularly gold and platinum. Meanwhile, traders assessed the latest domestic economic data. South Africa’s unemployment rate dropped to 31.4% in the final quarter of 2025 from 31.9% in the previous period. Despite improvements across most metrics, the rates remain extremely high, highlighting the country’s persistent jobs crisis. The attention now turns to the upcoming inflation report due on Wednesday.

South African Rand at Over 1-Week Low

Zambia 10 Year Government Bond Yield decreased to 16.92%, the lowest since May 2017. Over the past 4 weeks, Zambia Government Bond 10y lost 30.00 basis points, and in the last 12 months, it decreased 436.10 basis points.

Zambia 10Y Bond Yield Hits Near 9-year Low

The yield on the 10-year US Treasury note remained below the 4.05% threshold on Tuesday, the lowest in over two months, amid an uncertain outlook for riskier assets and consolidated expectations that the Federal Reserve will deliver multiple rate cuts this year. The latest inflation data showed that headline price growth was slightly below expectations, paving the way for the US central to restart its campaign to loosen monetary conditions by the second half of the year. Demand for bonds was also supported by selling in riskier sectors of the equity market with higher valuation estimates as the uncertain over AI disruption in the US economy drove markets to pivot toward speculative positions. Still, uncertainty prevailed over potential overhauls to the Fed's balance sheet ahead of Kevin Warsh's Chairmanship in May. The incoming Chair has previously advocated against asset buying, but recently signaled willingness to coordinate measures with the Treasury to ease yields.

US 10-Year Yield Hovers at Over 2-Month Low

Colombia’s trade deficit widened to about $1.51 billion in December 2025 from $1.17 billion a year earlier. Imports rose 7.1% year-on-year to $6.05 billion, driven by a 12.5% rise in manufactured goods purchases. Within manufacturing, machinery and transport equipment imports climbed 17.0%, while chemicals and related products rose 0.5%. Imports of agricultural, food and beverage products grew 9.8%, amid higher purchases of beverages and tobacco (+81.4%) and food products and live animals (+5.4%). By contrast, imports of fuels and extractive industry products fell 22.0%, largely due to lower purchases of petroleum and petroleum products (-23.7%). Meanwhile, exports rose 1.3% year-on-year to $4.54 billion; sales of petroleum and petroleum-derived products plunged 22.6%, while the “other exports” category surged 90.4% on a large increase in non-monetary gold shipments. Manufactured goods rose 3.2% and agricultural exports increased 5.4%.

Colombia Trade Deficit Widens in December

The NAHB/Wells Fargo Housing Market Index eased to 36 in February of 2026 from 37 in the previous month, contrasting slightly with market expectations that it would improve to 38. It was the softest reading in five months, reflecting continued challenges in the US housing market. Builder sentiment deteriorated across most components of the index, with sales expectations in the next six months dropping by three points to 46, while the traffic of positive buyers dropped two points to 22. In turn, current sales conditions remained unchanged 41. Th survey reported that 36% of builders cut prices in the period, 4 percentage points below the ratio in January.

US Homebuilder Sentiment Weakens to 5-Month Low

Colombia’s imports rose 7.1% year-on-year to $6.05 billion in December 2025, amid an increase in manufactured goods purchases (+12.5%). Within manufacturing, imports of machinery and transport equipment climbed 17.0%, while chemicals and related products rose 0.5%. Purchases of agricultural, food and beverage products also increased 9.8%, supported by higher imports of beverages and tobacco (+81.4%) and food products and live animals (+5.4%). Over January–December 2025, total imports reached $70.50 billion, up 10.0% compared with the same period in 2024.

Colombia Imports Rise 7.1% in December

Arabica coffee futures eased to near $2.8 per pound, the lowest since July 2025, pressured by Brazil's supply fundamentals and the rising dollar. Crop prospects in the leading producer remain solid, with a strong crop expected next season, even though some growing areas continue to face irregular weather conditions. Recent rainfall across Brazil’s major coffee-producing regions has significantly improved crop prospects, alleviating earlier concerns over dry conditions that had threatened yield potential. The National Supply Company (Conab) anticipates a record 66.2 million 60-kg bags in Brazil’s upcoming harvest. Eisa brokerage raises the bar further, estimating that the new crop could reach 75.8 million bags.

Arabica Coffee Futures at 7-Month Lows

The Dow Jones Index is falling -151 points. Losses were driven by Chevron (-2.62%), Salesforce (-2.54%) and Caterpillar (-2.12%). Biggest rises came from Travelers Companies (1.76%), Visa (1.50%) and Apple (1.04%).

The Dow Jones Index Opens 0.30% Lower

The S&P/TSX Composite fell roughly 0.7% to below 32,900, struggling to reclaim record highs after a long weekend as sharp losses in commodity heavyweights overshadowed support from softer inflation data. Pipeline and gold majors led the decline, with Enbridge down roughly 4%, Barrick Gold off 2.6%, Agnico Eagle losing 2.2%, and Wheaton Precious Metals sliding 3.7% after announcing a $4.3 billion silver streaming deal with BHP. Base metal producers also weakened, including Teck Resources (-4%), Lundin Mining (-4.5%), and Ivanhoe Mines (-5.2%), tracking softer metals prices. Energy was mixed, with Suncor down 0.5%, Imperial Oil off 1.1%, and Canadian Natural Resources marginally higher. Meanwhile, Shopify rose over 3% as easing price pressures bolstered expectations of looser North American monetary policy. Canada’s January CPI slowed to 2.3%, below the 2.4% consensus and the Bank of Canada’s 2.5% forecast, while core measures also edged lower.

TSX Resumes Trading in the Red

US stocks were mixed following a long weekend as the valuations and outlooks for different sectors continued to contrast. The Nasdaq 100 was 0.4% lower while the S&P 500 and Dow, which have less exposure to tech, were flat. Companies that sell software as a service remained under the spotlight on concerns that improvement in AI automation tools may displace demand for the sector. Intuit and Oracle were firmly lower. Hardware producers that have benefited by the influx of datacenter capital expenditure also remained volatile on skepticism that spending will translate to the returns that were expected. AMD fell more than 1%, while Nvidia and Broadcom traded in the red. Additionally, Crowdstrike fell more than 2% after Mizuho cut its recommendation on the firm. Meanwhile, Warner Bros was over 2% higher as it reopened deal talks with Paramount on a stronger bid by the latter. Lastly, banks and financial stocks were sharply higher on fresh support form Treasuries.

US Stocks Trade Mixed

Lead decreased to 1949.00 USD/T, the lowest since December 2025. Over the past 4 weeks, Lead lost 5.53%, and in the last 12 months, it decreased 2.35%.

Lead Hits 8-week Low

Canada’s 10 year government bond yield slid toward 3.23%, its lowest level in eleven weeks, as moderating inflation and softer external drivers eased long term borrowing costs. Canada’s January CPI eased to 2.3% and the Bank of Canada’s trimmed mean slowed to 2.4%, reinforcing evidence that underlying price pressures are cooling and reducing the probability of renewed tightening. With the policy rate held at 2.25% and officials signaling that settings are broadly appropriate, markets have flattened the expected rate path, lowering the term premium embedded in 10 year yields. At the same time, renewed prospects of oil supply increases from April have tempered energy price expectations, softening the inflation and terms of trade channels. Meanwhile, US Treasury yields traded near early-December lows after a similar soft inflation picture added to dovish bets for the Federal Reserve, compounding pressure on North American yields.

Canada 10-Year Bond Yield Drops to 11-Week Low

The Canadian dollar weakened toward 1.367 per US dollar, pulling back after briefly testing the 16 month highs reached in late January, as softer domestic inflation and fading terms of trade support eroded its policy and commodity backing. January CPI slowed to 2.3% while the Bank of Canada’s trimmed mean eased to 2.4%, with gasoline plunging 16.7% year over year and shelter inflation cooling, reinforcing evidence that price pressures are moderating and reducing the likelihood of renewed tightening. With the policy rate at 2.25% and officials signaling that settings are broadly appropriate, markets are flattening the expected rate path, narrowing Canada’s yield support relative to peers. At the same time, crude oil faces renewed supply headwinds as OPEC+ considers resuming output increases in April, limiting gains in Canada’s key export and weakening the terms of trade channel that typically underpins the loonie.

Canadian Dollar Loses Ground After Inflation Data

Futures tracking the Canadian S&P/TSX Composite Index were mixed on Tuesday after a long weekend, as losses for commodity-backed conglomerates weighed against support from a favorable inflation reading. Headline inflation in Canada unexpectedly eased to 2.3% in January, below market expectations of 2.4% the Bank of Canada's projection of 2.5%, while the core rates tracked by the central bank fell across the board. Still, energy producers and gold miners were due for a lower open as the prices of their backing commodities pulled back. Also, Wheaton Precious Metals stock was over 3% down pre-market after it signed a silver streaming agreement with BHP for $4.3 billion.

Canadian Stocks Set for Muted Open

Canada’s wholesale trade rose by 2% month-on-month to C$86.1 billion in December 2025, following a 1.8% drop in the prior month, though slightly below the preliminary estimate of a 2.1% advance. Sales rose in four of seven subsectors, led by the motor vehicle and motor vehicle parts and accessories subsector (9.3%). Excluding the automotive subsector, wholesale sales rose 0.6%.

Canada Wholesale Sales Growth Revised Slightly Down

The headline inflation rate in Canada eased to 2.3% in January of 2026 from the three-month high of 2.4% in the previous period, slightly under market expectations that it would hold at 2.4%. The result was loosely aligned with the Bank of Canada's projection that the inflation rate would be near the 2.5% mark at the start of the year before treading below the 2% target, as base effects from the GST/HST break in January of 2025 continued to impact annual inflation rates. Deflation picked up for transportation (-17% vs -0.5% in December) due to the 16.7% plunge in gasoline prices. Inflation slowed for shelter (1.7% vs 2.1%) and household operations and furnishings (2.5% vs 3.6%). In turn, prices accelerated for food (7.3% vs 6.2%) due to breaks from the tax regimes, especially lifting prices of food from restaurants (12.3%). Meanwhile, the trimmed-mean core rate fell to 2.4% from 2.7%, well under expectations of 2.6%, for the lowest since April 2021.

Canadian Inflation Rate Unexpectedly Eases

Foreign investors reduced their holdings of Canadian securities by C$5.6 billion in December 2025, reversing a C$16.0 billion increase in November. The change was led by a C$17.6 billion net divestment in debt securities and a C$12.07 billion net increase in equities. Non-resident investors sold C$11.12 billion of Canadian bonds, with corporate bonds showing a C$22.53 billion divestment partially offset by purchases of government bonds (+C$11.41 billion). Equities recorded a C$12.07 billion gain, with acquisitions targeting shares from all industries except the banking sector. On the other side, Canadian investors acquired C$13.06 billion of foreign securities, led by purchases of US shares.

Foreigners Reduce Holdings of Canadian Securities

The NY Empire State Manufacturing Index fell to 7.1 in February 2026 from 7.7 in January, compared to forecasts of 7. Still, the reading showed that manufacturing activity continued to expand modestly in New York State and firms remained optimistic that conditions would continue to improve, with employment expected to grow. New orders increased (5.8 vs 6.6), while shipments held steady (-1 vs 16.3). Unfilled orders rose (9.1 vs -8.2) and delivery times were slightly longer (4 vs 0). Inventories increased somewhat (7.1 vs -2.1), while supply availability held steady (-1 vs -4.1). Employment (4 vs -9) and the average workweek (2.1 vs -5.4) increased slightly after falling last month. The pace of input price increases (49.1 vs 42.8) and selling price increases (22.2 vs 14.4) picked up. Capital spending plans strengthened (18.2 vs 10.3).

NY Manufacturing Activity Extends Expansion

The Baltic Exchange’s dry bulk index, which tracks rates for vessels transporting dry commodities, fell about 0.2% to 2,095 points on Tuesday, following a 0.8% increase in the previous session. The capesize index, which typically transports 150,000-ton cargoes such as iron ore and coal, eased 0.5% to 3,194 points; and the supramax index fell 0.3% to 1,194 points. Meanwhile, the panamax index, which usually carries 60,000-70,000 tons of coal or grain, rose 0.4% to 1,792 points.

Baltic Dry Index Edges Down

The National Bank of Romania held its benchmark interest rate unchanged at 6.5% in its second policy meeting of 2026, keeping borrowing costs steady since concluding its cutting cycle in August of 2024. The monetary authority noted that headline inflation slowed in the fourth quarter of the previous year due to lower fuel prices, while their preferred core inflation rate was steady at the turn of the year following its slight uptick in the earlier months. The data loosely maintained the inflationary backdrop in balance with the monetary conditions from the last year. Similarly, economy-wide employment declined in the previous quarter, but the ILO-standardized unemployment rate also inched down. The BNR continued to see an uncertain outlook  due to geopolitical conflicts and global trade tensions, but its base case remained that inflation will fall sharply in the third quarter of this year to return to target by the first half of 2027.

Romania Holds Interest Rate

US private employers added an average of 10,250 jobs per week in the four weeks ending January 31, 2026, up from 7,750 in the previous period, according to ADP Research. The latest data mark a third consecutive week of strengthening job gains and the fastest pace since late November, signaling a renewed acceleration in hiring momentum.

US Private Hiring Momentum Accelerates

The annual inflation rate in Cape Verde cooled down to 1.4% in January, the lowest since December 2024, from 3.3% in the prior month. Price increases moderated mostly for food and non-alcoholic beverages (3.7% vs 5.8%) and clothing and footwear (6.9% vs 10.5%), while housing and utilities (-4.5% vs 0%) and transportation (-1.5% vs -0.7%) costs fell. On a monthly basis, the CPI decreased by 1.7%, after a 1% rise in the previous month.

Cape Verde Inflation Rate Falls to Over 1-Year Low

US equity futures fell on Tuesday following a long weekend as markets continued to assess how the disruption of AI will impact the corporate sector. Contracts attached to the Nasdaq 100 fell 0.7%, while those for the S&P 500 and the Dow were 0.3% lower. Companies that sell software as a service remained under the spotlight on concerns that improvement in AI automation tools may displace demand for the sector. Salesforce, Intuit, and ServiceNow were lower pre-market to extend their pullback for the month. Hardware companies that have benefited by the influx of datacenter capital expenditure also remained volatile on skepticism that spending will translate to the returns that were expected. Meanwhile, Warner Bros was over 2% higher as it reopened deal talks with Paramount on a stronger bid by the latter. Companies in other sectors were mixed as the tame inflation print from Friday continued to indicate that the Federal Reserve is likely to deliver multiple rate cuts this year.

US Futures Decline

India's BSE Sensex closed about 0.2% up at 83,451 after a volatile session on Tuesday, marking the second day of advances. Tech shares led the advance, supported by Infosys (+1.8%), which announced a partnership with U.S.-based AI firm Anthropic to develop enterprise AI solutions across multiple sectors. ITC and BEL added 2.3% and 2%, respectively. Meanwhile, traders watch developments at the India AI Impact Summit underway.

Sensex Up for 2nd Day

Ireland’s trade surplus narrowed to EUR 2.87 billion in December 2025 from EUR 3.87 billion in the same month last year. This marked the smallest trade surplus since December 2023, as imports rose more than exports. Year-on-year, exports grew 1.7% to EUR 16 billion, supported by a 2.7% increase in medical and pharmaceutical sales, which accounted for 40% of total exports. However, a 14.1% drop in exports of organic chemicals weighed on overall shipments. Exports to the US slumped by 41.1% to EUR 3.3 billion, with chemical products comprising the bulk of shipments to that market. The US, the Netherlands, and Belgium remained the top export destinations. Meanwhile, imports rose faster at 10.7% to EUR 13.1 billion, driven by higher purchases of medical and pharmaceutical (+16.4%), organic chemicals (+6.8%), and office machines & automatic data processing machines (+89.8%). Ireland’s largest suppliers were France (12.8%), the US (12.7%), and Great Britain (10.2%).

Ireland Trade Surplus Smallest in 2 Years

The ZEW Indicator of Economic Sentiment for the Euro Area fell by 1.4 points from the prior month to 39.4 in February 2026, below market expectations of 45.2. In February, about 52.6% of the surveyed analysts expected no changes in economic activity, 43.4% predicted improvement and 4% anticipated a deterioration. In the meantime, the indicator of the current economic situation increased by 4.5 points to -13.6 and inflation expectations rose by 7.7 points to 0.1.

Eurozone Investor Morale Unexpectedly Eases

The SENSEX Index gained 174 points or 0.21 percent on Tuesday to close at 83451 points. Gains were led by ITC (2.22%), Infosys (1.90%) and Larsen & Toubro (1.77%). Biggest losers were Eternal Limited (-1.52%), Tata Steel (-1.34%) and Reliance Industries (-0.90%).

The SENSEX Index Closes 0.21% Higher

Albania’s trade deficit narrowed to ALL 31.1 billion in January 2026 from ALL 32 billion in the same month a year earlier. Imports fell 4.0% year-on-year to ALL 57.9 billion, driven by lower inflows of construction materials and metals (-2.1 pp), minerals, fuels, and electricity (-2.0 pp), and chemical and plastic products (-1.5 pp), partly offset by higher imports of machinery, equipment, and spare parts (+2.1 pp). Purchases decreased from Italy (-10.3%) and Greece (-3.3%) but rose from China (+1.8%) and Turkey (+13.5%). Meanwhile, exports declined 4.5% to ALL 26.7 billion, weighed down by drops in minerals, fuels, and electricity (-2.9 pp), textile and footwear (-1.8 pp), and chemical and plastic products (-0.4 pp), mitigated by machinery, equipment, and spare parts (+1.4 pp) and leather products (+0.1 pp). Exports fell to Italy (-3.6%) and Kosovo (-2.0%) but increased to Germany (+30.2%) and Greece (+31.8%).

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