The FX market is experiencing a period of calm today, with most major pairs trading within narrow ranges. Economic activity is light, with the North American session featuring benchmark revisions in US CPI and Canada's January employment figures.
Japanese equities showed mixed performance, with mainland shares down almost 1% while other major markets in the region trended higher. Europe's Stoxx 600 index is slightly firmer after two consecutive sessions of decline. US index futures show a slight upside bias following record highs set by the S&P and Nasdaq yesterday.

Gold is trading within a narrow $5 range above $2030, slightly below last week's settlement below $2040. March WTI continues its recovery for the fifth consecutive session.

Asia Pacific
Comments from the BOJ's deputy governor and the increase in US rates have fueled a new upward movement in the dollar, which may not have reached its peak yet. BOJ Governor Ueda echoed these sentiments, downplaying the likelihood of a tightening cycle even after a rate adjustment.

The dollar reached a marginal new high today near JPY149.60. Meanwhile, the Australian dollar struggled to maintain gains after facing resistance near $0.6540 on Wednesday, testing support levels in North America and nearly revisiting the week's low set on Monday.

Europe
News developments are light as the eurozone heads into the weekend, with next week's economic calendar highlighting another look at Q4 GDP and its details.
The UK's economic calendar is empty today, but next week brings important releases including a new employment report, January CPI and PPI figures, December GDP details, and Q4 23 GDP data.

The euro is trading within an exceptionally narrow range today (~$1.0760-$1.0785), while sterling, like the euro, remains nearly flat for the week.

America
Economists will analyze today's CPI revisions, but their impact on the market and policymakers is expected to be minimal. Fed Chair Powell mentioned during a recent press conference that officials will review the revisions, but he did not appear to attach much significance to them.

Canada's January employment report is the highlight of today's North American session.
The greenback is hovering near yesterday's low and has not seen much movement above CAD1.3465 today.