China’s foreign exchange reserves increased by USD 41.2 billion to USD 3.399 trillion in January 2026, up from USD 3.358 trillion in December 2025. This marked the seventh consecutive monthly rise and the highest level since November 2015, supported by a persistently weaker U.S. dollar. Meanwhile, the People’s Bank of China continued to add to its gold holdings for the fifteenth consecutive month, with reserves rising slightly to 74.19 million fine troy ounces in January from 74.15 million in December 2025. The value of these holdings climbed to USD 369.58 billion, up from USD 319.45 billion a month earlier. In 2025, China’s foreign exchange reserves increased in 11 months, rising by USD 155.512 billion over the year.

The University of Michigan’s consumer sentiment index rose by 0.9 points to 57.3 in February 2026, marking a third consecutive monthly increase and beating market expectations of 55, according to preliminary data. Despite the improvement, sentiment remained roughly 20% below its level in January 2025. The gains were driven largely by consumers with significant stock holdings, while sentiment among households without equity exposure stagnated at depressed levels. Modest improvements in perceptions of current personal finances and buying conditions for durable goods were partly offset by a slight deterioration in long-term business expectations. Concerns over the erosion of household finances due to high prices and the risk of job losses remain widespread. On the price front, year-ahead inflation expectations fell sharply to 3.5% from 4.0% in January, the lowest level since January 2025, while longer-term inflation expectations edged up for a second month to 3.4% from 3.3%.

The Dow closed at a record high on Friday, surging 2.5% as US equities staged a broad based snapback after a bruising tech led selloff earlier in the week, with dip buying returning as fears around near term AI disruption and forced deleveraging eased. The S&P 500 jumped 1.9% and the Nasdaq rose 2.1%, led by a sharp rebound in semiconductors, with Nvidia, Broadcom, and AMD surging over 7% each as investors selectively rebuilt exposure after steep declines. Cyclicals outperformed, with Caterpillar and Goldman Sachs gaining 7.1% and 4.3%, reinforcing a rotation toward value and economically sensitive sectors. Despite Friday’s surge, the Nasdaq still ended the week down 1.9%, reflecting lingering caution around elevated valuations, heavy AI capex commitments, and earnings execution risk, with Amazon extending losses by 5.6% after reaffirming plans for $200 billion in AI investment. The S&P 500 finished the week 0.1% lower, while the Dow advanced 2.6%.

Silver extended its rebound toward the $78 per ounce mark on Friday, halting the selloff that started late January as markets gauged solid fundamentals for the metal against overdone speculative positions that triggered unprecedented volatility for the asset. Despite the rebound, silver prices erased all of this year's gain days after reaching a record of $121 on January 29th, after a wave of selling triggered higher margin requirements and magnified liquidation. Catalysts for the plunge also included the nomination of Kevin Warsh for the next Fed Chairman, who previously displayed strong views against a large Fed balance sheet. Precious metals had rallied after the US presidential administration hinted at efforts to weaken the dollar, in addition to geopolitical concerns in between NATO members and Middle Eastern military powers. At the same time, speculative bets on silver due to its industrial use in electrification and AI infrastructure added to the bullish sentiment.

The US Manheim Used Vehicle Value Index jumped 2.4% month-over-month in January 2026, the most since April last year, compared to a 0.1% gain in the previous month. EV prices increased 0.4% from December and Non-EV went up 2.2%. “We had planned for a stronger January from a pricing perspective, but wholesale values moved even faster than we expected on the back of strong retail demand, driving the MUVVI to its highest reading since September 2023. With tax refund season officially starting last week, we are expecting that more consumers will be getting refunds – and that the size of those refunds will hit a new record. Those factors should help consumers punch the ticket on some big-ticket purchases”, according to Jeremy Robb, Chief Economist, Cox Automotive. Year-on-year, used car prices also increased 2.4%, led by the luxury segment (1.6%) and non-electric vehicles (2.2%), while compact cars posted a 0.2% decline. Prices for EVs increased 0.8%.

The unemployment rate in Canada fell to 6.5% in January 2026 from 6.8% in the previous month, undershooting market expectations of 6.8% and marking the lowest level in 16 months, as fewer people searched for work. The decline marked a partial reversal of the prior month’s increase and reflected a 94,000 drop in the number of unemployed to around 1.5 million. The labour force contracted by roughly 94,000, pushing the participation rate down to 65.0% from 65.4%. Net employment fell by 25,000 to 21.12 million, interrupting the recent run of gains. Losses were driven by a 70,000 decline in part-time employment, partly offset by a 45,000 increase in full-time work.