CAD: Edges lower amid broader USD gains – Scotiabank

The CAD is experiencing slight softness in quiet trading, primarily due to a stronger USD. The CAD's fair value estimate has increased slightly, reflecting a minor upward adjustment, note Scotiabank's Shaun Osborne and Eric Theoret.

CAD softens in quiet trade

"Losses reflect the generally stronger USD overall, with the CAD finding little relief from firmer commodities or the positive (so far) risk mood."

"Those factors have helped nudge the CAD’s fair value estimate a little higher—to 1.3632—this morning and should help reinforce better USD selling interest on minor gains through the upper 1.36s."

(This article was created with the help of an Artificial Intelligence tool and reviewed by an editor.)

Feb 4, 2026

Eurozone: Inflation undershoots ahead of ECB meeting – ABN AMRO

The preliminary estimate for January Eurozone HICP inflation eased to 1.7% y/y, down from 1.9% in December, aligning with expectations. Core inflation also fell to 2.2% y/y. The ECB is expected to keep interest rates unchanged amid concerns about inflation undershooting its target.

JGB: Fiscal concerns may be overplayed – TD Securities

In their latest report, TD Securities analysts Prashant Newnaha and Alex Loo argue that fears surrounding Japan's fiscal outlook are exaggerated. They highlight that Japan's Gross Debt to GDP ratio is misleading due to significant government assets.