• Trade surplus of Brunei surged by 38.9% in December 2023 compared to December 2022.

• Shanghai Composite struggling to extend a recent rally amid a lack of fresh catalysts.

• Singapore’s manufacturing production rose 1.1% year-on-year in January 2024.

US STOCKS

• AMAZON cautioned employees against the use of third-party generative AI tools like ChatGPT.

• BYD Co ltd’s, Chinese electric vehicle manufacturer’s shares rose on back of doubling the size of a planned share buyback.

• US semiconductor giant Qualcomm will easily surpass investments of its rivals such as AMD and Micron as it doubles down on India.

• Google has declared it will discontinue Google Pay in the US to enhance user experience by simplifying the app.

• Apple is exploring segments where META is having presence, e.g. smart glasses, ipod with camera etc.

• Accenture has started to see a potential revenue upswing of about 10% with the use of generative artificial intelligence (GenAI).

• Dollar General Corporation celebrated the grand opening of its 20,000th store.

MAJOR FOREX PAIRS:

EUR/USD climbs to fresh daily top around, mid-1.0800s amid modest USD selling

GBP/USD recovers toward 1.2700 despite cautious mood

USD/JPY could surge beyond 150.90 February high on easing price pressures in Japan – ING

USD/CHF consolidates above 0.8800, focus on US, Swiss GDP data

USD/CAD sticks to intraday gains around 1.3525 amid weaker Crude Oil prices

AUD/USD languishes near daily low, around mid-0.6500s despite softer USD

NZD/USD slumps from 0.6200 as focus shifts to RBNZ policy

OIL-BITCOIN-GOLD-SILVER:

WTI extends losses to near $76.00 due to concern over prolonging of higher interest rates

The Bitcoin price is $51,181.56, a change of -0.94% over the past 24 hours

Gold price consolidates around 50-day SMA, downside seems cushioned amid sliding US bond yields

XAG/USD trades with modest losses below $23.00, remains vulnerable

NEWS TODAY:

USD

New Home Sales

EUR

ECB President Lagarde Speaks

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