Payroll processor ADP released a report on Wednesday showing private sector employment in the U.S. increased by more than expected in the month of January. ADP said private sector employment climbed by 183,000 jobs in January after rising by an upwardly revised 176,000 jobs in December. Economists had expected private sector employment to rise by 150,000 jobs.

The UK car market contracted for the fourth straight month in January due to weak consumer confidence and tough economic conditions, but the market share of electric vehicles increased, data from the Society of Motor manufacturers and Traders or SMMT, showed on Wednesday. Car registrations decreased 2.5 percent on a yearly basis to 139,345 units in January.

The UK service sector growth eased more than initially estimated in January as new work declined for the first time since October 2023, survey results from S&P Global showed on Wednesday. The S&P Global services Purchasing Managers' Index registered 50.8 in January, down from 51.1 in December and was also below the flash estimate of 51.2.

Eurozone private sector expanded for the first time in five months in January as factory production showed a slower decline amid a softer growth in services activity, final survey results from S&P Global showed on Wednesday. The HCOB composite output index rose to 50.2 in January, in line with flash estimate, from 49.6 in December.

The U.S. dollar continued to trade lower against other major currencies in the Asian session on Wednesday, as China imposed tariffs on U.S. goods, like as liquefied natural gas and oil.

Indonesia's economy expanded almost at a steady pace in 2024 but far behind President Prabowo Subianto's ambitious goal of 8 percent, official data revealed Wednesday. In 2024, Southeast Asia's largest economy advanced 5.03 percent, slightly slower than the 5.05 percent growth in 2023, Statistics Indonesia reported.

The final composite Purchasing Managers' survey results from the euro area and the UK are due on Wednesday, headlining a busy day for the European economic news. At 2.45 am ET, France's statistical office INSEE publishes industrial production data for December. Output is forecast to fall 0.1 percent on month, reversing a 0.2 percent fall in November.

China's services activity continued to expand in January but the growth softened amid slowing new business growth and job shedding, survey results from S&P Global revealed on Wednesday. The Caixin services Purchasing Managers' Index posted 51.0 in January, down from 52.2 in December. The reading was forecast to edge up to 52.3. The score has remained above 50.0 signalling expansion since January.

Reflecting a steep drop by orders for transportation equipment, the Commerce Department released a report on Tuesday showing new orders for U.S. manufactured goods decreased by more than expected in the month of December. The Commerce Department said factory orders slumped by 0.9 percent in December after sliding by a downwardly revised 0.8 percent in November.

Spain's unemployment increased less than expected in January and also hit the lowest level for the month in 17 years as the economy continued to exhibit robust growth, official data showed on Tuesday. The number of people out of work increased 38,725 in January from the previous month, the labor ministry said.

The commodity currencies such as Australia, the New Zealand and the Canadian dollars strengthened against their major currencies in the Asian session on Tuesday, as traders reacted positively to U.S. President Donald Trump's latest decision to delay imposing the planned tariffs on Mexico and Canada after successful negotiations with the respective leaders. The tariffs could have renewed inflation fears, leading the U.S. Fed to keep interest rates on hold for longer.

A report released by the Commerce Department on Monday showed construction spending in the U.S. increased by much more than expected in the month of December. The Commerce Department said construction spending climbed by 0.5 percent to an annual rate of $2.192 trillion in December after rising by 0.2 percent to a revised rate of $2.180 trillion in November.

Following 26 consecutive months of contraction, the Institute for Supply Management released a report on Monday showing U.S. manufacturing activity expanded in the month of January. The ISM said its manufacturing PMI rose to 50.9 in January from 49.2 in December, with a reading above 50 indicating growth. Economists had expected the index to inch up to 49.8.

Trump's tariff threats rattled currency markets during the week ended January 31, lifting the Dollar against most major currencies.

The UK manufacturing activity continued to contract in January, albeit at a slower pace, due to weak demand, low confidence and rising costs, final survey results from S&P Global showed on Monday. The final manufacturing Purchasing Managers' Index rose to 48.3 in January from an 11-month low of 47.0 in December. The reading was marginally above the flash score of 48.2.

Eurozone inflation edged up in January due to the acceleration in energy price growth but the intended easing path of the European Central Bank is unlikely to be influenced by the modest increase. Inflation in the euro area increased to 2.5 percent in January, while it was expected to remain at December's rate of 2.4 percent.

The euro area manufacturing sector shrank at a slower pace in January as contractions in output, orders, inventories and purchasing activity slowed, final survey results from S&P Global showed on Monday. The final HCOB manufacturing Purchasing Managers' Index rose to an eight-month high of 46.6 in January from 45.1 in December. The flash reading was 46.1.

The commodity currencies such as Australia, the New Zealand and the Canadian dollars declined against their major currencies in the Asian session on Monday, after news the U.S. tariffs were put in place over the weekend, which led to concerns about higher inflation that will force the U.S. Fed to put a hold on interest rate cuts for longer.

China's manufacturing sector expanded at a slower pace in January as staffing declined the most since 2020 and exports orders fell for the second consecutive month amid international policies posing significant challenges for the economy. The Caixin Purchasing Managers' Index fell to 50.1 in January from 50.5 in December, survey results from S&P Global showed on Monday. However, the reading abov

Flash inflation and final manufacturing Purchasing Managers' survey results from the euro area are the top economic news due on Monday. At 3.15 am ET, Spain's manufacturing PMI survey data is due. Economists expect the index to rise to 53.5 in January from 53.3 in the previous month. At 3.45 am ET, manufacturing PMI survey results are due from Italy. The index is seen at 46.8 in January, up from

Industrial output in South Korea jumped a seasonally adjusted 4.6 percent on month in December, Statistics Korea said on Monday.

Consumer price pressures in Germany slowed unexpected at the start of the year amid a sharp slowdown in food inflation, offering some relief for the European Central Bank that lowered interest rates a day earlier and plan to continue easing to boost the single currency economy that came to a standstill in the final three months of 2024.

Euro area consumers' inflation expectations for the next 12 months increased for a third straight month in December, while professional forecasters revised up the projections for this year and next, separate surveys by the European Central Bank showed on Friday.

MNI Indicators released a report on Friday showing its reading on Chicago-area business activity increased in the month of January but continued to indicate contraction. The report said the Chicago business barometer rose to 39.5 in January from 36.9 in December, although a reading below 50 still indicates contraction. Economists had expected the index to climb to 40.0.

The Commerce Department released a closely watched report on Friday showing consumer prices in the U.S. increased in line with economist estimates in the month of December. The report said the personal consumption expenditures (PCE) price index rose by 0.3 percent in December after inching up by 0.1 percent in November. The increase matched expectations.