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2026-02-13 Friday

2026-02-22

18:31:46

[Russia's Central Bank Cuts Interest Rates to 15.5%, Inflation Target Anchored to 2026] ⑴ The Central Bank of Russia announced on Friday that it would cut its key interest rate from 16% to 15.5%, in line with market expectations. In its statement, the bank said that, based on forecasts, under the current monetary policy stance, the annual inflation rate will fall to 4.5-5.5% in 2026. ⑵ This means that monetary conditions will remain tight, with core inflation expected to be close to 4% in the second half of 2026, and annual inflation stabilizing at the target level from 2027 onwards. ⑶ The baseline scenario assumes an average key interest rate between 13.5% and 14.5% in 2026. The Central Bank of Russia noted that the economy is continuing to return to a balanced growth path, but its assessment suggests that underlying indicators of current price growth have not changed significantly. ⑷ From a policy perspective, this rate cut is a preventative adjustment based on expectations of slowing inflation, but the statement emphasizes that the inflation base is not yet solid, and the pace of subsequent easing depends on the sustainability of the slowdown. (5) In the future, attention should be paid to the transmission of ruble exchange rate changes to import prices, and whether residents' inflation expectations can follow the decline in policy interest rates. These two factors will determine whether the central bank has the conditions to continue cutting interest rates at the next meeting.

18:30:04

The interest rate decision of the Russian Central Bank in February

Previous : 16% Forecast : 16%

Published Value 15.50%

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18:18:30

Total employed population in the Eurozone for the fourth quarter - calendar-adjusted and seasonally adjusted preliminary figures

Previous : 17041.14 Forecast : -

Published Value 17251.66

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18:17:21

The revised reading of Spain's unadjusted CPI for January

Previous : 119.47 Forecast : -

Published Value 100.84

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18:13:10

The seasonally adjusted trade balance of the eurozone for December

Previous : 107 Forecast : -

Published Value 116

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18:01:24

The seasonally adjusted annual GDP growth rate for the eurozone in the fourth quarter was revised

Previous : 1.30% Forecast : 1.30%

Neutral

Published Value 1.30%

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18:01:12

The seasonally adjusted GDP growth rate revision for the Eurozone in the fourth quarter

Previous : 0.30% Forecast : 0.30%

Neutral

Published Value 0.30%

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18:00:54

The seasonally adjusted annual GDP growth rate for the eurozone in the fourth quarter was revised

Previous : 1.30% Forecast : 1.30%

Neutral

Published Value 1.30%

Previous

18:00:44

The seasonally adjusted GDP growth rate revision for the Eurozone in the fourth quarter

Previous : 0.30% Forecast : 0.30%

Neutral

Published Value 0.30%

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18:00:07

The eurozone's unadjusted trade balance for December

Previous : 99 Forecast : -

Published Value 126

Previous

18:00:06

The preliminary estimate of the seasonally adjusted annual rate of employment in the eurozone for the fourth quarter

Previous : 0.60% Forecast : 0.60%

Neutral

Published Value 0.60%

Previous

18:00:04

The preliminary estimate of the seasonally adjusted employment rate in the eurozone for the fourth quarter

Previous : 0.20% Forecast : 0.10%

欧元

Published Value 0.20%

Previous

17:49:01

[Yen Surges 2.7% to 15-Month High, "Buy Japan" Narrative Reverses Short-Selling Trap] ⑴ The yen surged over 2% against the dollar this week, its largest weekly gain since November 2024. On Friday, USD/JPY closed at 153.46. Although the yen retreated 0.5% intraday, its upward momentum remained unstoppable. It rose 2.3% against the euro, its strongest weekly gain in a year, and also climbed approximately 2.7% against the pound, completely overturning pre-election market expectations that a victory for Sanae Takashi would trigger a sell-off. ⑵ Following Sunday's election results, Japanese stocks surged, and government bonds and the yen rose in tandem, forming a vote of confidence in Takashi's loose fiscal policy. She clearly pledged responsible policy and excluded new debt issuance. SMBC's Chief Foreign Exchange Strategist, Hirofumi Suzuki, stated that the election ended the political turmoil that began last July, and the short-covering wave may still have room for further gains. (3) Increased stock market volatility this week drove funds into low-yield safe-haven currencies such as the Japanese yen and Swiss franc. The Swiss franc rose 0.8% this week, holding steady at 0.7695. Rabobank strategist Jane Foley emphasized that the Swiss franc is the only safe-haven currency that meets the textbook definition—fiscal soundness, current account surplus, institutional credibility, and ample liquidity. In contrast, while the Norwegian krone and Swedish krona have surged 5.3% and 3% respectively since the beginning of the year, their lower trading volume makes them difficult to replace. (4) The Reserve Bank of Australia's hawkish stance supports the Australian dollar's leading position among G10 currencies this year. It fell slightly by 0.3% to 0.7073 on Friday, but still rose nearly 0.9% for the week. The US dollar index is expected to fall 0.7% for the week, as seemingly strong labor market data concealed signs of weak hiring, weakening the narrative of economic resilience. (5) The market is holding its breath awaiting US inflation data. Currently, interest rate futures are pricing in two rate cuts in 2026, with the first likely to occur in July. Commonwealth Bank strategist Carol Kong stated that unless there are unexpected data releases, the US dollar may remain in consolidation in the short term. Whether the yen can break through the political premium and realize structural appreciation depends on the interplay between Sanae Takashi's fiscal discipline commitments and the stickiness of spring inflation.

17:42:19

[Japanese Government Bond Futures Remain Stuck at Current Levels; Steepening Yield Hints at Central Bank's Aggressive Move] ⑴ Japanese government bond futures remained volatile on Friday, opening 34 points higher at 131.89, before touching an intraday high of 132.02. This was driven by buying interest following a sharp drop in US Treasury yields. Yields on 10- to 15-year bonds fell 3.5 basis points in the morning session, with the 10-year yield briefly dropping to 2.195% before rebounding quickly, failing to hold below 2.20% for the second consecutive day. ⑵ However, around 10:25, futures turned lower, touching 131.69, with selling pressure emerging on 40-year bonds, while 12-year bonds saw steady buying, suggesting positive demand for the day's 5- to 15.5-year non-active bond auctions. (3) Following a hawkish speech by Naoki Tamura, a member of the Bank of Japan's Policy Board, futures prices accelerated their decline to 131.52. Tamura stated that Japanese inflation is becoming sticky and that the price target could be achieved as early as this spring. He also hinted at a neutral interest rate range of 1% to 2.5%. This statement pushed yields for 2-year, 5-year, 10-year, 20-year, and 30-year maturities to their intraday highs (1.295%, 1.70%, 2.235%, 3.08%, and 3.46%, respectively). (4) Buying on dips subsequently drove a rebound in futures prices, with yields for maturities under 20 years falling again. However, the steepening yield curve remained unchanged, with particularly strong buying interest in 16-year maturities. The yield on the 0.8% coupon JL180 maturing in March 2042 fell by 3.5 basis points in a single day, possibly reflecting institutional demand for replenishing positions in maturities missed in the secondary market. The bidding results for the 0.4% coupon JL173 maturing in June 2040 also showed strong demand. (5) The futures market fluctuated between 132.02 and 131.52 throughout the day, completely overlapping with yesterday's range, indicating that the market is stuck between the Bank of Japan's hawkish shift and the linkage with overseas bond markets. Going forward, attention will be focused on the timing of the spring price target confirmation and the pressure from the neutral interest rate guidance on reshaping long-term pricing.

17:41:35

[Oil Price Collapse and Geopolitical Clouds: Can the Rubber Market Recline After Three Consecutive Days of Decline?] ⑴ The Kuala Lumpur rubber market closed lower on Friday, with the SMR 20 contract falling 7.5 sen to 757 sen/kg and bulk latex declining 1 sen to 578.5 sen/kg. Traders cited a continued 0.28% drop in Brent crude oil to $67.33/barrel, coupled with weakness in regional rubber futures. ⑵ Oil prices had already plummeted by nearly 3%, with expectations of oversupply and rising inventories continuing to weigh on sentiment. Meanwhile, Japanese rubber futures fell for three consecutive days, and the approaching Lunar New Year holiday in China exacerbated selling pressure due to liquidity shortages. ⑶ Escalating tensions in the Middle East added another layer of pressure. Media reports indicated that the US was deploying a second aircraft carrier to the region, creating a double whammy of geopolitical risk premiums and pessimistic demand. Benchmark Mineral Intelligence data showed that global electric vehicle registrations in January plummeted by 3% year-on-year, dragged down by the reduction of subsidies in China and changes in US policy, directly impacting the outlook for rubber consumption. (4) However, the decline was limited by positive US economic data and stable inflation expectations, and the market is still weighing the supporting effect of macroeconomic resilience on industrial commodities. (5) Next Monday is the Chinese New Year holiday. The Kuala Lumpur market will be closed from February 16th to 18th and will resume trading on the 19th. Pre-holiday capital outflows may reduce volatility, but the unresolved supply-demand imbalance in the oil market and geopolitical tensions will make the post-holiday restocking pace and the direction of electric vehicle policies key variables for the renewed battle between bulls and bears.

17:07:36

The annual rate of the balance of various RMB loans in China in January

Previous : 6.40% Forecast : 6.20%

Published Value 6.10%

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17:06:34

China's social financing scale in January - year-to-date

Previous : 356000 Forecast : 70850

Published Value 72200

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17:06:33

China's social financing scale in January - year-to-date

Previous : 356000 Forecast : 70850

Published Value 72200

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17:06:23

China's new RMB loans in January - year-to-date

Previous : 162700 Forecast : 50000

Published Value 47100

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17:06:20

China's new RMB loans in January - year-to-date

Previous : 162700 Forecast : 50000

Published Value 47100

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17:05:24

China's M2 annual rate of money supply in January

Previous : 8.50% Forecast : 8.40%

Published Value 9%

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17:05:12

China's annual rate of M1 money supply in January

Previous : 3.80% Forecast : 3.60%

Published Value 4.90%

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17:05:01

China's annual rate of M0 money supply in January

Previous : 10.20% Forecast : -

Published Value 2.70%

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17:03:32

Switzerland's unadjusted CPI reading for January

Previous : 106.90 Forecast : -

Published Value 99.90

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17:01:41

LME Daily inventory changes in the UK on February 13th - Nickel

Previous : 636 Forecast : -

Published Value 702

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17:01:34

LME Daily Inventory changes in the UK on February 13th - Tin

Previous : -60 Forecast : -

Published Value -50

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17:01:25

LME Daily inventory changes in the UK on February 13th - Zinc

Previous : -1750 Forecast : -

Published Value -1275

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17:01:14

LME Daily inventory changes in the UK on February 13th - Copper

Previous : 4550 Forecast : -

Published Value 7225

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17:01:03

LME Daily inventory changes in the UK on February 13th - Primary aluminum

Previous : -2200 Forecast : -

Published Value -2000

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17:00:56

LME Daily inventory changes in the UK on February 13th - Lead

Previous : -50 Forecast : -

Published Value -250

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17:00:47

LME Daily inventory changes in the UK on February 13th - Main NASAAC aluminum alloys

Previous : 0 Forecast : -

Published Value 0

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17:00:46

LME daily inventory changes in the UK on February 13th - Cobalt

Previous : 0 Forecast : -

Published Value 0

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17:00:43

LME Daily Inventory changes in the UK on February 13th - Aluminum Alloy

Previous : 0 Forecast : -

Published Value 0

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16:58:40

[Shenzhen Prohibits Illegal Gold Pre-Price Trading] On February 13, ten departments, including the Shenzhen Municipal Financial Regulatory Bureau and the Shenzhen Branch of the People's Bank of China, jointly issued a "Public Notice on Further Regulating the Business Practices of the Gold Market," clearly defining compliance red lines from three dimensions: enterprises, individuals, and financial institutions. The notice targets industry irregularities such as illegal gold trading, fundraising fraud, and false advertising. The notice lists six prohibited behaviors for enterprises' gold business: 1. Strictly prohibit disguised futures trading. Enterprises are prohibited from collecting margins and settling price differences through WeChat groups, mini-programs, or apps under the guise of "locked-in prices" or "pre-price trading," without physical delivery. 2. Strictly prohibit illegal fundraising. Enterprises are prohibited from promising "principal and interest guarantees" under the guise of gold custody, leasing, or repurchase. 3. Strictly prohibit investment on behalf of clients. Enterprises are prohibited from inducing consumers to purchase gold but not take physical delivery, instead converting it into entrusted investment. 4. Strictly prohibit illegal online business operations. Enterprises are prohibited from illegally selling, developing, or providing technical support for illegal gold trading software through live streaming. 5. False advertising is strictly prohibited. It is forbidden to impersonate a "Shanghai Gold Exchange member" and to use absolute terms such as "gold prices will definitely rise sharply" or "buying gold is a sure way to make money." 6. Adulteration and price fraud are strictly prohibited. It is forbidden to pass off non-gold as gold, to sell inferior goods as superior ones, and to add extra charges or collect fees not clearly stated. Furthermore, the notice lists two prohibited behaviors in personal gold transactions: 1. Participation in illegal pre-sale transactions, illegal fundraising, and illegal entrusted investment is prohibited; 2. Developing or using illegal gold trading apps or mini-programs is prohibited, and providing technical support to related platforms is not allowed. (CCTV Finance)

16:54:30

China's Commercial Banks' Foreign Exchange Settlement and Sales in January - Bank Agency

Previous : 7055 Forecast : -

Published Value 6214

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Real-Time Popular Commodities

Instrument Current Price Change

XAU

5098.85

103.02

(2.06%)

XAG

84.227

5.873

(7.50%)

CONC

66.31

-0.09

(-0.14%)

OILC

71.58

-0.31

(-0.44%)

USD

97.807

-0.045

(-0.05%)

EURUSD

1.1785

0.0012

(0.10%)

GBPUSD

1.3484

0.0021

(0.16%)

USDCNH

6.8955

-0.0024

(-0.04%)